CNBC by Darla Mercado 11/1/2019
Trump’s move to Florida could run into resistance from New YorkKey Points
• President Donald says he and his family will make Palm Beach, Florida, their permanent residence, parting ways with New York.
• Perhaps the biggest upside to moving to the Sunshine State is that it’s one of seven states that don’t levy personal income taxes. Florida also has no estate tax.
• New York, a high-tax state, could contest the move.
President Donald Trump is making his move to Florida official.
His home state of New York may not let him go without a fight.
The president, a native of the Queens borough, tweeted on Thursday night that he and his family will be making Palm Beach, Florida, their permanent residence.
“I cherish New York, and the people of New York, and always will,†Trump tweeted.
“But unfortunately, despite the fact I pay millions of dollars in city, state and local taxes each year, I have been treated very badly by the political leaders of both the city and state,†he wrote.
More:
https://www.cnbc.com/2019/11/01/why-president-trumps-move-from-new-york-to-florida-could-hit-a-wall.html