NYcarbineer
Diamond Member
New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, according to the Tax Foundation.
Over that decade the state gained 2.1 million, so net migration amounted to 1.3 million, representing a loss of $45.6 billion in income.
Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents moved to Florida over the decade opting perhaps for the Sunshine States more lenient tax system taking nearly $20 billion in adjusted growth income with them.
Over that same time period, 208,794 Pennsylvanians moved to Florida, taking $8 billion in income.
Many of these New York and Pennsylvania residents no doubt moved to Florida for the warm weather, says the foundation, a nonpartisan research group. ut many more may have moved there because the state does not have an individual income tax, an estate tax, nor an inheritance tax.
The Tax Foundation has created a migration calculator based on data from the Internal Revenue Service, tabulating the number of individuals moving between states each year, and income affected by the shifts.
The calculator shows that 612,520 people renounced their citizenship in New York State and moved to Florida in the 10-year period, taking with them $19.7 billion in adjusted growth income.
Between 2009 and 2010 alone, 40,195 New York residents moved to Florida, taking $1.3 billion in income.
According to the group, New York ranked second among the states for the highest state and local tax burden in 2009. The Empire State was ranked highest for tax burden every year from 1977 until 2006, except in 1984 when it was ranked second...
More:
Escape From New York? High-Taxing Empire State Loses 3.4 Million Residents in 10 Years | CNSNews.com
DRUDGE REPORT 2012®
Do they exclude the retirees in NY who move to Florida, without any regard for tax issues?
Many of these New York and Pennsylvania residents no doubt moved to Florida for the warm weather, says the foundation, a nonpartisan research group. ut many more may have moved there because the state does not have an individual income tax, an estate tax, nor an inheritance tax.
RIF
"may" have is the key word there. They don't really know the numbers. New Hampshire has a net loss of people to Florida, and New Hampshire is a very low tax state.
My current boss moved back here from Florida recently.