Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Wealthy people trying to escape New York’s high taxes are going to extremes to prove they've actually moved. https://t.co/51T50JCxQ6
High earners in New York State now must log every day they are anywhere in world and must provide location of their Pets 🐶 & their Pelotons in order to NOT pay the 14% + state taxes. As states go bankrupt, this will become more and more common. Escape to low tax like TX, AZ.
High earners in New York State now must log every day they are anywhere in world and must provide location of their Pets 🐶 to their Pelotons in order to NOT pay the 14% + state taxes. As states go bankrupt, this will become more and more common. Escape to low tax like TX, AZ.
In response to New York's high state taxes, wealthy residents are employing extreme measures to prove their relocation and avoid the 14%+ tax rate. Tactics include timing private jet flights to leave and return to the state around midnight. Auditors are increasingly vigilant about these strategies. Additionally, high earners must now log their daily location worldwide and the whereabouts of their pets and Pelotons to demonstrate non-residency. This phenomenon is expected to become more common as other states potentially face bankruptcy.