The city’s hedge-fund executives are flying south — and it’s not for vacation.
An increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida’s Palm Beach County.
Selfish rich bums they are. What a ridiculous notion fleeing high taxes for lower taxes.
Same thing happening in Calif. Sales tax at 10%. Figure what you pay on large items like a car. State tax going up for 2013. Many businesses moving to Nevada or Arizona. Jobs going with them. Dem politicians cutting off their foot to spite their leg.
Inflation increasing but let's raise taxes to save the programs that put us into to debt in the first place. Sound reasoning.
one whiny billioniare went to florida to escape NY taxes....ha ha .. jeez...
he didn't go to Alaska which has even higher state taxes
NY Post –......“Florida is a state of choice,” said Thalius Hecksher, global development chief for Apex Fund Services, who moved many of his operations to Palm Beach. “It’s organically grown. There’s no need to drag people down here. It’s a zero-income-tax jurisdiction.”
There are other perks, too — like the fact that it was 77 degrees and sunny there yesterday.
Federal tax rates are the same in Florida and New York.
But there’s no state income tax in the Sunshine State. Compare that to New York, where the state and local governments took $14.71 of every $100 earned in 2010, according to state records.
The only state with a higher rate is Alaska....
(i guess the fmr "mare" of wasilla, and gov palin screwed up or what?)