Over the years laws have made certain conditions more or less favorable from state to state to those that have more to lose. The latest trend in migratory patterns across the US is that America's money has been moving to Florida and Texas more so than other states.
There has been some recent insight on the topic of the reasons behind why America's money is moving to Florida and Texas.
Key Takeaways:
- America's wealthy like warm weather and low taxes.
- To find places the rich are moving, Forbes used IRS data on household moves broken down by county and income.
- Moving to Texas or Florida is good for tax purposes “If you're a high-income earner, then that, from a tax perspective, is going to be a driving decider if you're going to move to one of those two states,
“After accounting for property taxes, Shrum's analysis shows that Texas has the fourth-lowest personal tax burden in the country, and Florida has the eighth lowest.”
