Hacker News Reader

> based on income and assets

In other words, "Sure, you can leave. Just send us a chunk of yourself... even if you made it on foreign soil and using foreign resources."

I don't know the specifics but I do know it has one particularly onerous clause for people in startup land. Any illiquid assets must be sold (perhaps just valuated) and capital gains paid on the proceeds.

Exactly my sentiments. However, since it says "in some cases", maybe this refers to paying the regular taxes due before relinquishing.

No, the exit tax can be pretty bad:

"The so-called ‘mark-to-market' tax will apply to the net unrealized gain on the expatriate's worldwide assets as if such property were sold (the ‘deemed sale') for its fair market value on the day before the expatriation date."[1]

[1] http://www.withersworldwide.com/news-publications/324/exit-t...