California considers taxing space travel

Paying taxes on Earth is already a pain, but in California, you could one day be paying that extra fee in space. The state's franchise tax board wants the public to weigh in on the idea.

Its proposal would compute taxes on commercial space transportation companies. Basically, any company operating in California that makes half of their money from space transportation. They say it is any travel 62 miles above the surface of the Earth.

15 PHOTOS
Best and worst states for retirement
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Best and worst states for retirement

1. Florida 

You knew it had to be high on the list, didn't you? In terms of affordability, Florida topped the list while it placed fifth in terms of quality of life, overcoming its 20th-ranked healthcare rating.

2. Colorado

Ranked second in healthcare while quality of life came in 8th place, Colorado is constrained by its 23rd-place ranking in affordability.

3. South Dakota

The home of Mount Rushmore is the second most affordable state and ranked sixth when it came to healthcare, but can't break the top half in quality of life (ranked 32nd).

4. Iowa

Not typically thought of as a retirement destination, Iowa has decent rankings across the board (9th in healthcare, 11th in quality of life and 26th in affordability).​​​​​​​

5. Virginia

Quality of life ranks well in Virginia (9th) while affordability and healthcare rankings are above average (18th and 21st respectively).

The next five desirable retirement states are, in order:

Wyoming

New Hampshire

Idaho

Utah

Arizona

46. Arkansas

Dead last in quality of life and 45th in healthcare, Arkansas is pulled up by its 20th-place showing in affordability.​​​​​​​

47. Mississippi

The same principle applies to Mississippi, but even more so. The state is 49th in quality of life and last in healthcare, but it ranks 10th in affordability.

48. Rhode Island

Healthcare is above average (22nd), but quality of life and affordability are poor at 46th and 48th place, respectively.

49. New Jersey

The least affordable state in the union also has below average rankings in quality of life (28th) and healthcare (33rd).​​​​​​​

50. Kentucky

Kentucky ranks 47th in both quality of life and healthcare and only 38th in affordability, earning the Bluegrass State WalletHub's least desirable retirement state ranking for 2018.​​​​​​​

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Now, the reason the board created the rules is to let entrepreneurs know the state's tax code will be ready once business takes off. And, figuring out the amount of tax is actually pretty simple. The farther away from Earth you go means the less tax you pay. While the closer you are means more tax.

A public hearing on the rules is set for June 16th.

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