More Wealthy Moving to Florida Than Any Other State

May 31, 2019

The wealthy population of the United States was seeing ditching their high-tax states for Florida in the last few months, but a new study released by Bloomberg shows that the migration period started even before the tax changes had made the state more favorable to live.

Bloomberg examined data from the Census Bureau and IRS during the years of 2016 and 2017. The results confirmed the state had gained the biggest amount of income due to migration in comparison to other states, surprisingly more than the seven times runner up Texas.

The state of Florida earned $17.2 billion in net taxpayer Adjusted Gross Income for the year, while Texas in the second place gained only $2.4 billion. New York, as you can see in the graph below, had the most significant difficulty.

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