Leaving New York
21st May 2010
The IRS has posted statistics on taxpayers coming and going from various states in 2008 versus 2007. New York lost 201,570 taxpayers with aggregate adjusted gross income of about $12.3 billion, mostly to Florida, New Jersey, Pennsylvania, California, North Carolina, and Connecticut. Over the same year, the Empire State gained 173,194 taxpayers with aggregate adjusted gross income of about $8.4 billion. The biggest feeder states to New York were New Jersey, foreign countries, Florida, Pennsylvania, and California. On a net basis, the state lost taxpayers, and the ones that left earned more money than the new ones who arrived.
Don’t let the government hit you in the wallet on the way out.