There has been an increasing amount of migration of taxpayers from northeastern states to the south and southwestern states. This flight activity has increased for two reasons: higher tax rates in the northern states and the limitation on the state tax deduction. Whether you are looking to relocate a business or determine which state or locality you should claim residency to, this business relocation resource center has the insights to help drive your decisions. For additional questions, contact our Withum professionals at any time.
Learn more by selecting the area below that best pertains to your needs.
Asset Manager Firms on the Move
South Florida is becoming a key area for the Financial Services industry. While the asset management industry operates throughout the United States, many companies are considering moving their business operations out of high-tax jurisdictions to Florida.
Check out Withum’s two-part series to hear Withum experts, Colin Nicholson and Michael Oates, and guest speaker, Ron Geffner, Partner, Sadis and Goldberg, discuss the key factors why asset managers are migrating south.
New York, NY
Disclaimer: Please note this is the information that is readily available at this time, it is subject to change so please consult your Withum tax advisor.