State income tax rates are often cited as a key factor behind the migration of billionaires and other high earners to low-tax states such as Florida and Texas. Many wealthy individuals are choosing to leave states like New York and California, where top income tax rates can reach double digits, in search of more favorable tax environments.
Source: Tax Foundation, The Business Week Graphic
This graph was produced by Lucas Juery, CFA, CFPⓇ and is not intended to provide financial advice.
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