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N.J. has lost its wealthiest resident to Florida, report says (David Tepper)
NJ.com ^ | 16, 2016 at 3:04 PM, updated March 17, 2016 at 7:17 AM | By Craig McCarthy

Posted on 04/06/2016 8:14:15 AM PDT by DCBryan1

New Jersey's wealthiest man may be making a common Northeast move: a relocation to the tax-friendly state of Florida, a report says.

According to Bloomberg, David Tepper has shifted the base of his Appaloosa Management to the Sunshine State as of Jan. 1 after registering to vote and declaring citizenship in Miami at the end of 2015.

Taxes were reportedly an important part of the 58-year-old's decision, but also, quality-of-life played big part in his choice to move, according to the article.

Tepper has been a resident of the Garden State for more than two decades and has continually appeared on NJ Biz's 50 wealthiest people in New Jersey and Forbes list ranking the world's billionaires. His business was headquartered in Short Hills.

Tepper, who own a home in Livingston and a condo in Miami, has a net worth of $11.4 billion and is the 85th wealthiest person in the world, according to Forbes.

(Excerpt) Read more at nj.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; US: Florida; US: New Jersey
KEYWORDS: avoidingtaxes; corzine; davidtepper; estatetax; exittax; fl; fleeingtaxes; florida; incometax; inheritancetax; investor; liberals; mob; newjersey; nj; omerta; organizedcrime; smartmove; sopranos; sopranostate; tax; taxes; taxtaxtaxtaxtax; tepper
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To: Robert DeLong

My family, my business, my real estate holdings are here in New Jersey, it just isn’t that easy

I could “fake move” buy a small home in PA and make that my residence I guess. And call NJ my “vacation home”

I was hoping Christie could have destroyed the public unions here, once they are gone we can start rebuilding this state


21 posted on 04/06/2016 10:06:13 AM PDT by arl295
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To: Robert DeLong
Better get out while the getting is good. They may pass a law outlawing emigration from the state.

There is already an exit tax, when you sell property to relocate. The solution (of which the rich can best take advantage) is not to sell, but to hold and rent or lease out New Jersey properties. Naturally, that does not please us Realtors.

22 posted on 04/06/2016 10:17:55 AM PDT by JimRed (Is it 1776 yet? TERM LIMITS, now and forever! Build the Wall, NOW!)
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To: DCBryan1

Why would anyone leave a Garden of Eden state?


23 posted on 04/06/2016 11:55:08 AM PDT by Rockpile (GOP legislators-----caviar eating surrender monkeys.)
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To: MasterGunner01

Liberals are a like a strange species of bird that always sh!t $ up its own nest and then moves onto the next clean one in order to repeat the process.


24 posted on 04/06/2016 12:56:36 PM PDT by Catmom (We're all gonna get the punishment only some of us deserve.)
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To: Flick Lives

There are two citizenships, State and U.S.

http://section520.org/statecitizenship.html


25 posted on 04/06/2016 9:17:54 PM PDT by Axenolith (Government blows, and that which governs least, blows least...)
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