Last years tax law that capped deductions is causing residents from high-taxed states to migrate
Governor Andrew Cuomo made headlines this week when he revealed that a $2.3 billion budget shortfall in NY was due to people fleeing the state in favor of better (tax) climates like Florida.
The recent tax law is spurring residents to leave high-taxed state since the new deductions law has removed a significant tax relief mechanism that didn’t matter before.
