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People Packing Up for Florida’s Sunny Tax Rates

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    Quintessentially CEO Lisa Murray on the money making its way to the Sunshine State.

  • Duration 3:59
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Another example of what I'm calling the great tax migration that is people moving from high tax states like new -- California.

Over the places like Florida to take advantage of -- tax rate Florida has no state income tax.

Our next guest caters to the rich in Florida she says business could not be bad news.

Lisa Martin CEO -- quintessentially.

Lisa I believe you Tokyo business from the northeast to Florida.

Not because you wanted to escape high -- -- because you are following the money that was going to Florida.

Is accurate.

Yes subsidies -- Cyrix and we have 65 offices around the world and our core businesses obviously lifestyle management.

And private jets charts her.

And and when we were looking three years ago at setting up at operations of the -- business and in the US.

We certainly we're looking at growth posh friends obviously in the in each individual us states.

But likewise we were looking at the migration of high net worth individuals two and -- you know to Florida.

-- we've certainly seen over the last number of years and that business has continued to grow we've grown our business about 18% in three years.

And is that obviously guard says very attractive for a number of reason it -- so -- yeah.

Easy is it taxes -- taxes the primary reason that people all leaving places like new York and going to thought that's it taxes I.

I think it's a number of reasons I think taxes is certainly a huge and it's such it is a huge act key factor.

But I also think fast and you know you've got great quality of life time here -- -- the weather is pretty much perfect here -- But say -- but certainly you know we've seen a lot of big business and recently moved to Miami.

Then you know governor Scott and enterprise Florida done a great job with incentivizing big business to move to Miami and justice -- Florida.

And so you've the likes of the big hedge fund managers you know ES -- has recently moved from Connecticut.

-- phone service -- and you know all of these type of big business and big finance that case -- is to these type of clients in this region.

And and I think certainly Miami.

And is a lot more than beaches -- that cruise ships you know -- it -- a great cultural revival huge emphasis on contemporary arts and philanthropy.

So it really offers a total lifestyle choice for these have -- clients do you encourage.

The tax another of course tax avoidance for the tax -- nation angle of your business period.

And well I'm just happy that business is doing rally you know and so.

At -- we are obviously -- with 65 offices so we we look after clients all over the world.

But certainly business is doing very well and here and we have seven offices alone in South America so it's very important for us to be.

And to have set up hauled in and -- large effort to cater to those clients like glass companies a lot of money coming.

That they to look at it globally you've got 65 offices around the world on the you can give -- a global picture here would be true to say that there is a trend away from high tax countries.

Towards lower tax environments -- -- is that -- generally.

A trend that -- -- Yes accidentally.

I mean even need to look at you know celebrities or the likes of Phil and Phil Mickelson has just announced that he's moving to Florida because of the tax rates when -- secondly you know another second did did he announced that he is leaving California or -- -- website my news are accompanied by I her when navy is just thinking I'm not sure if -- -- I don't I don't want to be -- to break -- -- -- and but I I I heard is I've certainly heard that that you know he was considering -- and and and number of the big golfers are based out of our you know for -- for similar reasons announcing the -- -- -- foods.

But then you know we do see that trends -- lately.

Lisa thanks so much for joining us I can see -- -- is attractive because the backdrop to your shot today is a tranquil ocean and upon trail to so look.

Thank you have -- -- where this comes as against and thank you very much.

Thank you -- thank you.

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