From the NY Post:The city’s hedge-fund executives are flying south — and it’s not for vacation.
An increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida’s Palm Beach County.
And they’re being welcomed with open arms — officials in Palm Beach recently opened an entire office dedicated to luring finance hot shots down south.
There are other perks, too — like the fact that it was 77 degrees and sunny there yesterday.
Federal tax rates are the same in Florida and New York.
But there’s no state income tax in the Sunshine State. Compare that to New York, where the state and local governments took $14.71 of every $100 earned in 2010, according to state records.
The only state with a higher rate is Alaska.
11 comments:
Ah, but what about hurricanes and other extreme weather events? Oops - that's right: they get an immediate disaster relief package, unlike us northerners...
I'll soon be joining the exodus to sunny Florida!
Say hello to Casey Anthony & George Zimmerman!
"Finance hot shots".
You mean criminal skimmers and thieves, backstopped by the biggest thief of all, Ben Bernanke.
Florida aka: The Swindler State.
Please.
I will be there in the next 2-3 years. I bought 3x the property and 3x the house that I have in NYC in a preferred FL area for 3x less than what I am paying here. See ya... NY got enough of my blood...
Fla is not for me . lousy food humidity,bugs,snakes,alligators............
The problem with florida is you have to live in florida. Yeah, Orlando and Miami are nice to visit, and even live, but get outside of the cities and you may as well be in Alabama.
There is a reason that Fark.com has its own 'Florida' tag
At least in New York, once you get outside the city, people tend to get normal. There, its the reverse.
Depends what you mean by normal.
For those of you talking about leaving: there's the door. If you don't like it here, stop talking about it and leave.
have no fear ,the high earners are and you will pay the tax whores more and more and more.
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