States are increasingly turning to high-income and high-net-worth individuals as a source of new revenue, but what looks like a simple rate hike often carries far more complex consequences. In this episode, Brian Rebhun, PwC’s Financial Services Tax Leader, and Ben Muilenburg, PwC’s State and Local Tax Partner, break down the rising wave of millionaire taxes, billionaire surcharges, and wealth tax proposals in states like California, New York, Massachusetts, and Maryland, and explore why these measures may involve more than the headline rate change.