Taxes and Interstate Migration: 2024 Update
The latest IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
8 min readThe latest IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
8 min readDo taxes affect individuals’ decisions regarding where to live and work? Can high taxes cause the outmigration of wealthy individuals?
5 min readThe pandemic has accelerated changes to the way we live and work, making it far easier for people to move—and they have. As states work to maintain their competitive advantage, they should pay attention to where people are moving, and try to understand why.
5 min readIndividuals respond to taxes by changing their behavior. Hence, when there are tax differences between countries, some might respond by moving to a lower-tax area. For higher-income individuals, the benefits of moving as a result of higher taxes are greater because they have more income or wealth at stake.
4 min readThere are many ways that states can compete with one another for residents, and tax rates and structures should certainly be part of the conversation for states looking to attract new residents.
2 min read