By Michael Barone | MAY 1, 2014
The Internal Revenue Service's latest data on the migration
of taxpayers from one state to another has been released for the years 2010 and
2011. Back in 2012 the IRS announced it was discontinuing this series, but
after protests from, among others, the Washington Examiner editorial page, reversed itself and
promised to continue the data series.
The 2010-11
data shows that, as in the past, there is a large migration away from high-tax
states to low-tax states. The biggest gainers were the two megastates with no
state income tax: the net gain in taxpayer income from migration was $4.9
billion in Florida and $2.4 billion in Texas. The biggest losers were
high-income-tax states: New York (-$3.3 billion), Illinois (-$2.0 billion), New
Jersey (-$1.7 billion) and California (-$1.0 billion). That amounts to a net
transfer of more than $7 billion to those first two states from the latter four…..To Read More….
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