Billions in taxpayer income are leaving two iconic states — as a new economic map emerges
As Americans continue relocating across state lines, California and New York remain at the center of the nation's migration story.The latest IRS data show the top 10 counties with the largest net losses of taxpayers to other states were all located in California and New York. Compiled from federal tax returns, the figures offer one of the clearest snapshots of where Americans are relocating — and where their income is moving with them.
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As Americans continue relocating across state lines, California and New York remain at the center of the nation's migration story.The latest IRS data show the top 10 counties with the largest net losses of taxpayers to other states were all located in California and New York. Compiled from federal tax returns, the figures offer one of the clearest snapshots of where Americans are relocating — and where their income is moving with them. Economists say those migration patterns help explain broader shifts in state economies, tax bases and housing markets as families weigh affordability, taxes and job opportunities when considering where they want to put down roots.The movement of taxpayers and their income can also affect state and local tax collections, which help fund schools, public safety and infrastructure.Los Angeles County, home to Hollywood and one of the nation's largest economic engines, led the nation with a net loss of 17,496 tax filers. Those departing taxpayers took nearly $1.9 billion in income with them as they moved to other states.THE RED STATES RACING AHEAD IN AMERICA’S POWERFUL WEALTH BOOM — AND THE STATES FALLING BEHINDFLOURISH MAP SHOWING COUNTY MIGRATION: 29696985Other major counties in California and New York saw similar outflows.
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- What's the story?
- As Americans continue relocating across state lines, California and New York remain at the center of the nation's migration story.The latest IRS data show the top 10 counties with the largest net losses of taxpayers to other states were all located in California and New York. Compiled from federal tax returns, the figures offer one of the clearest snapshots of where Americans are relocating — and where their income is moving with them.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
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- 10m ago.
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Billions in taxpayer income are leaving two iconic states — as a new economic map emerges
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