Tags: Economic- Crisis | New | York | High | Tax

New York, Other High-Tax States Losing Residents

By    |   Tuesday, 29 May 2012 12:48 PM

New York State, which has ranked second for the highest state and local tax burden in 2009 and has consistently ranked the highest for tax burden every year, has lost 3.4 million residents to other parts of the country over a 10-year period, representing the biggest exodus in the country and a loss of $45.6 billion in income, CNS News reports.

The state gained 2.1 million during that same period, 2000-2010, with net migration totaling 1.3 million, according to the Tax Foundation, whose report was cited in the CNS News article. The migration out of New York represents a loss of $45.6 billion in income.

New York State’s loss has been Florida’s gain, with more than 600,000 New York residents relocating to the Sunshine State over the decade, with its more lenient tax system and warm weather. They took about $20 billion in adjusted growth income with them, the Tax Foundation said. Florida welcomed 208,794 Pennsylvanians during that same time period and took in their $8 billion in income.

“Many of these New York and Pennsylvania residents no doubt moved to Florida for the warm weather,” the foundation, a nonpartisan research group, said. “But many more may have moved there because the state does not have an individual income tax, an estate tax, nor an inheritance tax.”

California, with similar onerous taxes and regulations, saw a similar trend of its residents leaving for other states. The migrating Californians mostly chose Texas and Arizona.

Since 2000, 1.2 million more people have left California than have moved there, the second biggest net loss, after New York, according to the Tax Foundation.







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