Skip to comments.Billionaire Carl Icahn moving business from NY to Florida for lower taxes: report
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 Apples 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 Yorks 8.82 percent rate.
(Excerpt) Read more at foxnews.com ...
Be sure to bring your crappy voting habits with you if you’re a dem!! That’s what they all do.
How long before some of these lib-run states impose an exit tax, making it difficult or impossible to escape?
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.
How soon will the Mayor Communist denounce this decision and try to sanction Icahn?
Memo said company will not contest your unemployment claim.
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.
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.
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?
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.
They got that idea from the Communist Manifesto; yet another proof that national socialism is indeed on the left.
Jews leaving Nazi (National SOCIALIST) Germany had to pay next years taxes in full before they could get an exit visa.
- A heavy progressive or graduated income tax.
- Abolition of all rights of inheritance.
- Confiscation of the property of all emigrants and rebels.
Following Rush and hundreds if not thousands of others fed up with SOCIALISM!
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.
Leave your liberal tendencies back in NY!
They haven’t yet figured out a way to kewp people locked inside socialist states.
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