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Nearly 50,000 Residents Leaving N.Y. Tri-State Area for Fla.

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  • Description

    FBN’s Cheryl Casone on the business migration to the Sunshine State.

  • Duration 2:28
  • Date

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This transcript is automatically generated

Continued now -- got a story for that we.

Standing on for weeks here on in company.

People fleeing states because of high tax rates and going to states with low all know income taxes.

We want to bring you the latest on the tax migration story and for that will bring in Cheryl Casone she's in Florida.

A state seeing an increase in the thousands of people because of low taxes right -- Give me the headline number exactly how many people from New York -- tax the Florida no tax.

In 2011 latest census data Stuart.

50000.

Residents gained -- Florida from the New York State trying area and other remember this is the -- -- or excuse me this is New York Connecticut and New Jersey look at the numbers.

-- to New York 29000 residents in 2011121000.

From Connecticut down the Florida.

-- New Jersey 4000 I mean these are real numbers -- people are leaving New York businesses financial professionals.

Financial houses are leaving New York.

Why is New York so.

-- bad for business well it is the taxes as you mentioned the high taxes continue to pile -- Sixth worst unemployment insurance taxes -- the -- -- of the New -- states -- that is -- city -- we're sitting right now worst individual income tax.

The sixth worst in the nation for a -- when it comes to property taxes at least taken it this -- if you're living in Manhattan if you're living in New York State.

Fourteen dollars and change of every hundred dollars that you may.

Every day.

Goes to taxes -- In New York say.

We're having is all these professionals hedged by the by the actually fund guys coming -- calling us the 39 us right now thinking op I'm -- I'll talk about the good they're furious.

And the frustrated and that's saying -- -- on -- I'm gonna go to another state.

No personal income tax in this at a Florida seven states in this nation.

Florida's one of them sort it's easier it's better to do business costs eleven.

What are you paying gasoline what you're paying in -- -- office expenses and I -- -- your employees have well Stuart.

Look behind me that -- that's life I mean why would you want you're at that is not apply -- -- big time.

-- -- haven't -- business meetings going on okay is kept general Arab -- don't need what you gonna take this -- yeah I'm gonna right -- -- editors thought that you think I'm.

There -- -- on my -- okay I'm on my way.

I -- I that -- -- this all day long today but it's a great story.

The tax migration on your -- Cheryl Casone everyone -- throughout this day on the Fox Business Network.

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