Posted on 02/21/2019 10:04:21 AM PST by SeekAndFind
Last week, there was the pitiful scene of Gov. Andrew Cuomo of New York begging President Trump to restore a tax provision which unfairly benefitted New Yorkers. It seems that many high-income New Yorkers have been moving their tax homes to Florida, undermining the New York tax base.
Those who live in New York City may be paying state and local income tax rates, in addition to the federal tax, of over 12 percent, giving some an overall tax burden of approximately 50 percent. Florida imposes no state and local income taxes in addition to the federal income tax — yet Florida is booming, with a budget surplus, while New York is mired in debt. Only 50 years ago, New York had four times the population of Florida, and now Florida is larger than New York.
New York was the great “Empire State” for well over a century. It was the richest state by far with the largest population. It had arguably the best natural seaport in the world. The Hudson River and Erie Canal system enabled New Yorkers to both access raw materials and export manufactured goods all the way to Minnesota inexpensively by water — and then to and from Europe and the rest of the world.
Western New York State had rich agricultural lands with plenty of rainfall. The City of Buffalo and the surrounding area was a great center of heavy industry, with access to cheap electrical power from nearby Niagara Falls. Rochester was the “silicon valley” of a hundred years ago, with many of the high-tech firms of the time, like Kodak, Bausch and Lomb, and what became Xerox, and many others. New York is rich in natural gas, but the politicians will not allow fracking so it is dependent on other states.
(Excerpt) Read more at washingtontimes.com ...
Yeah, except the 2.5M people that all moved to FL came from NY. Just give it time.
I just have to say I thought you had to physically be present and live in a state for a majority of the year to claim residencey. So how do new yorkers work in New York but claim florida as their home state. unless they are lying? or dors florida let anyone with property there claim they are a state residence? also dont yiu need a Florida drivers license or ID to be a resident?
They’ve been moving to Florida for years. Upstate NY is good for jobs, schools,
Didn’t Golisano move to Florida for tax reasons. And I believe he pushes against the high taxes of NYS.
You need more than 180 days somewhere. It’s doable. Derek Jeter was always a FL resident. So was Arod.
Most professional athletes are residents of either TX or FL.
This came up as a topic when Yankee Alex Rodriguez was playing. He had some kind of calendar that he tracked day by day...when he was in NY City, and when he escaped to Florida. His accountant would present the calendar whenever challenged by a state audit. That seemed to work.
But this also explains why a significant number of condos are just a part-time residence in NY City, and rented out.
Exactly. Florida is about to enter into a death spiral. An avowed Socialist, who was actually honest about his intentions, almost became the Governor there. That place is a breath away from the total disaster that is NY.
Pro athletes pay state income taxes in every state in which they play. A Yankee resident in Florida would owe NY tax on about half of his MLB salary.
Yes, but only their game checks. Anything they receive in the way of incentive bonuses or signing bonuses or deferred income would be taxed (or not) in the home state.
There’s 162 games in the MLB season so only 81 are in NY. That’s not even 3 months. If he’s living in FL - and counting Spring Training there - he’s already in FL from November to March. You only need another 30 days throughout the year.
My sister and her family moved from the liberal utopia of Minnesota about ten years ago because that state targeted specifically doctors with a special higher income tax and her hubby a doctor said I’m out of here and moved to rural Virginia. They have noticed Virginia is slowly turning into a liberal sewer of high taxes and liberal idiocy. Her husband sold his practice for a healthy profit and when their son graduates next year they are moving to a farm they bought in no income tax state of Tennessee. Two states lose a practicing doctor because of their high taxes and liberal stupidity.
“New York had four times the population of Florida, and now Florida is larger than New York.”
Amen to that. The whole South was ruined by air conditioning, interstates, and bug control.
And what’s really sad, Tennessee is slowly creeping Purple. Nashville and Chattanooga are Hipster havens. Now that Amazon is headed to Nashville, that process will accelerate. A friend of mine posted, after hearing about Amazon moving to Tennessee, that he’s happy that his property value is going to go up. And while Tennessee has no income tax, they do have property taxes. And, when liberals invade and infect your neighborhood, rising taxes are not far behind.
I’ve made the following comment before, feel free to agree or disagree, because I see it happening in Georgia(an avowed Socialist, dead beat, tax cheat, almost won the Governors race) But..........
ALL of the blame on this is the Governors of Texas, Georgia, Florida, Tennessee, and North Carolina(a few more are going to creep the same direction), traveling all over the country and globe trying to lure businesses to their respective states. Offering crazy tax breaks, incentives, etc to make the moves more enticing.
(Disclaimer...I have no desire to argue about tax issues regarding companies moving, here and there, like what happened in NYC & Amazon)
These Governors were all about getting in front of a camera, microphone and issuing press releases about how the XYZ Corporation was moving and bringing 5000 jobs with them. All high paying blah, blah, blah jobs. Well, when the move occurred, the employees of the XYZ Corp, moved with it. They sold their over priced 3/2 ranch on Long Island, or wherever, packed a moving van and headed South. There, they bought a two story, 4/3 house on a 1/2 acre, in a swim/tennis community, some paid cash and their taxes went from $10,000/yr to $2000/yr. New schools. New baseball and soccer fields. New parks with jogging trails and Boot Camps. New parks and travel baseball/softball/soccer for their kids.
And most of the jobs that were promised, don’t go to the locals. They go to the transplants.
But, what did they do? They brought all the Liberal, Democratic BULLSH*T with them. The same stuff they ran away from, they brought with them. And then, when enough of them flooded an area, they started voting for the very same people that created the mess, they created in NY, NJ, Penn, Mass, Conn, Rhode Island, Mich, Illinois, Ohio, etc etc.
Much like refugees and illegal aliens, they DO NOT assimilate. They actually like having a burdensome government getting into their business and telling them what to do.
I’m not saying that as soon as the last box is unpacked, they have to take possession of an F250 Super Duty, a Remington 700, start deer hunting and walk around with a sack of RedMan. But they definitely do not make anyplace better, IMHO. That is, if you’re the type that just wants to quietly live your life, not get crushed by high taxes and an overbearing government on every level, and constantly have crap that you don’t agree with, rammed down your throat.
Like so many other states, Florida(in my opinion) is judged and described by what goes on in South Florida and Jacksonville(a little). So many think that it’s all about the beaches, golf courses and playground for the rich and retirees. And much like REAL COLORADO, it really isn’t anything like that, if you talk to a real Floridian. And I don’t mean some person who was born there, but whose dad is a retired cop from NYPD and moved his family down there as soon as he could.
I think that be would news to a lot of us here.
Liberals are like locust, they devour and destroy and move to the next green pasture only to do the same. Eventually you run out of the next green pasture, then we really will have absolute hell.
Yup!!!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.