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Billionaire Carl Icahn moving business from NY to Florida for lower taxes: report
Fox News ^ | 09/13/2019 | Edmund DeMarche

Posted on 09/13/2019 8:07:59 AM PDT by Olog-hai

Carl Icahn, the legendary investor, has told employees that he is moving his company from New York to Miami and a report said his decision to move is based on the Big Apple’s higher taxes.

Icahn, 83, whose net worth is about $20.4 billion, is set to move his home and business from the city due to the taxes, sources told Bloomberg.

The report said that it is not uncommon for billionaires to settle in the state which is one of seven without a personal income tax.

The report pointed to New York’s 8.82 percent rate. …

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


TOPICS: Business/Economy; News/Current Events; US: Florida; US: New York
KEYWORDS: billionaires; carlicahn; flee; icahn; redstatesvbluestates; socialism; taxandspend; taxes

1 posted on 09/13/2019 8:07:59 AM PDT by Olog-hai
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To: Olog-hai

Be sure to bring your crappy voting habits with you if you’re a dem!! That’s what they all do.


2 posted on 09/13/2019 8:09:50 AM PDT by albie
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To: Olog-hai

David Tepper.


3 posted on 09/13/2019 8:09:51 AM PDT by FlipWilson
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To: Olog-hai

How long before some of these lib-run states impose an “exit tax”, making it difficult or impossible to escape?


4 posted on 09/13/2019 8:10:04 AM PDT by daler
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To: Olog-hai

I am sure Icahn has smart tax lawyers because one can be sure New York will track when he is in New York to see if he is doing any business there and whether he is truly becomes a non-resident.


5 posted on 09/13/2019 8:12:48 AM PDT by C19fan
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To: Olog-hai

How soon will the Mayor Communist denounce this decision and try to sanction Icahn?


6 posted on 09/13/2019 8:13:15 AM PDT by Truth29
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To: Olog-hai

Memo said company will not contest your unemployment claim.


7 posted on 09/13/2019 8:13:49 AM PDT by gcparent (Justice Brett Kavanaugh)
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To: daler
How long before some of these lib-run states impose an “exit tax”, making it difficult or impossible to escape?

NY DOES employ an army of bureaucrats to follow the movements of these rich exiles to catch them if they spend more than 1 minute of the time needed to be considered to have a tax presence in NY State.

8 posted on 09/13/2019 8:16:23 AM PDT by PGR88
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To: daler
Jews leaving Nazi (National SOCIALIST) Germany had to pay next year's taxes in full before they could get an exit visa.

Sell your rental in California on a 1031 exchange, and don't keep the new property as a rental for 5 full years and California will "CLAW BACK" your tax savings.

9 posted on 09/13/2019 8:16:57 AM PDT by null and void (Genealogy is a funny thing. When you dig up your ancestors, you find...human beings.)
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To: albie

Florida has been on the edge of tipping for a while now. Could this push them over? More former upstaters moving away from lib areas and creating new ones?


10 posted on 09/13/2019 8:19:16 AM PDT by rktman ( #My2ndAmend! ----- Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: C19fan
I am sure Icahn has smart tax lawyers because one can be sure New York will track when he is in New York to see if he is doing any business there and whether he is truly becomes a non-resident.

They hounded Rush about his residence for years, and for all I know may still be hounding him. He had to keep every single airline ticket and hotel receipt to prove his whereabouts for all 365 days of the year, lest they claim he exceeded the threshold and was therefore a taxable NY state resident.

11 posted on 09/13/2019 8:21:54 AM PDT by null and void (Genealogy is a funny thing. When you dig up your ancestors, you find...human beings.)
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To: null and void

Jews leaving Nazi (National SOCIALIST) Germany had to pay next year’s taxes in full before they could get an exit visa. …
  1. A heavy progressive or graduated income tax.
  2. Abolition of all rights of inheritance.
  3. Confiscation of the property of all emigrants and rebels. …
They got that idea from the Communist Manifesto; yet another proof that national socialism is indeed on the left.
12 posted on 09/13/2019 8:22:12 AM PDT by Olog-hai ("No Republican, no matter how liberal, is going to woo a Democratic vote." -- Ronald Reagan, 1960)
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To: Olog-hai

Following Rush and hundreds if not thousands of others fed up with SOCIALISM!


13 posted on 09/13/2019 8:22:59 AM PDT by Don Corleone (Nothing makes the delusional more furious than truth.)
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To: Olog-hai

It isn’t just the income taxes, though that is significant; it is the NY Estate Tax, which will take 16% of Icahn’s estate. Florida’s rate is 0%. With a $20 billion net worth, that’s 3.2 billion reasons to leave that socialist hellhole.


14 posted on 09/13/2019 8:27:36 AM PDT by Ancesthntr ("The right to buy weapons is the right to be free." A. E. van Vogt, The Weapons Shops of Isher)
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To: Olog-hai
DeBlasio and Cuomo were unavailable for comment.
15 posted on 09/13/2019 8:41:53 AM PDT by wardamneagle
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To: Olog-hai

Leave your liberal tendencies back in NY!


16 posted on 09/13/2019 11:52:26 AM PDT by Ann Archy (Abortion....... The HUMAN Sacrifice to the god of Convenience.)
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To: Ancesthntr

They haven’t yet figured out a way to kewp people locked inside socialist states.


17 posted on 09/13/2019 3:54:24 PM PDT by Phillyred (Kieran Hussie)
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