Florida Is the Big Winner as the Wealthy Move Out of Northern States

Tax refugees are on the move.

(From Bloomberg)

Florida and South Carolina enjoyed the top economic gains, while Connecticut, New York and New Jersey faced some of the biggest financial drains, according to a Bloomberg analysis of state-to-state moves based on data from the Internal Revenue Service and the U.S. Census Bureau.

Connecticut lost the equivalent of 1.6% of its annual adjusted gross income, as the people who moved out of the Constitution State had an average income of $122,000, which was 26% higher than those migrating in.

Source: https://www.ac2news.com/2019/06/florida-is-the-big-winner-as-the-wealthy-move-out-of-northern-states/

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