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Wall Street Flees NY for Tax-Free Florida
“An increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida…
Florida is a state of choice,” said Thalius Hecksher, global development chief for Apex Fund Services… It’s organically grown. There’s no need to drag people down here. It’s a zero-income-tax jurisdiction.” There are other perks, too — like the fact that it was 77 degrees and sunny there yesterday. “You weigh all of the benefits for being here to those in New York, and they outweigh them every time,” said Evan Rapoport, CEO of HedgeCo.net.”

Florida Again Ranked in Top 5 for Best on Taxes

Once again, Florida ranked in the Top 5 for best states for taxes on business according to the 2012 State Business Tax Climate Index report from The Tax Foundation. The index focuses on how a tax system enhances or harms a state's businesses by looking at dozens of state tax provisions to create the ranking – a single, easy-to-use score that measures each state's tax climate against every other state.

While some states moved up and others down, Florida has remained very steady for eight years in a row. A key factor in Florida's ranking is the lack of a state personal income tax. In addition, Florida also ranked 12th in corporate taxes, 19th in sales taxes, 5th in unemployment compensation taxes and 24th in real estate taxes.

The 10 Top ranked states:
  • Wyoming
  • South Dakota
  • Nevada
  • Alaska
  • Florida
  • New Hampshire
  • Washington
  • Montana
  • Texas
  • Utah
We say come on down! The water is warm, the sun shines every day, and Southwest Florida is open for business.

From the New York Post (Jan 2013)
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