New York, California high-tax state exodus just beginning, expert warns
By Brittany De LeaPublished June 20, 2019TaxesFOXBusiness
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The cap on state and local tax (SALT) deductions has already begun to drive Opens a New Window. some residents away from high-tax Opens a New Window. states like New York and New Jersey, but experts say that trend is only going to intensify.
“It took a few months for taxpayers to realize the dollar implications – until they actually filed their tax returns this year,†Alan Goldenberg, a principal at Friedman LLP, told FOX Business. “It quantified the impact of the loss of the SALT deduction when people saw it in front of their eyes on their tax return.â€
https://www.foxbusiness.com/economy/high-tax-state-exodus-accelerate
