Right - and that is exactly what is happening in NJ (and the NYC metro area). A few years back, the wealthiest resident of NJ moved to Florida and the state had to revise its budget - because it built in a LOT of money it expected to wring from him in taxes, and only half would be coming.
In my city, the fools that be, attempted to track down any business transactions that may have been done at restaurants.
For instance, If an audit produced knowledge of business writes offs in a city restaurant, then the city was demanding tax revenue for the business transaction which was signed within city limits even though both parties may have resided outside city limits.
As a result, many firms canceled reservations and conventions within city limits. Thus, creating loss of revenue for the restaurant and hence, by extension loss of taxation revenue to the city.
I think cuomo attempted a similar threat in NYC, once he drove the wealth out of NY.
Which led to an exit tax if you dare to sell out and move!