Florida, with its moderate real estate tax rate and no personal income tax, has long been a welcoming, safe harbor for those fleeing from higher-taxed states such as New York, New Jersey, Illinois and Connecticut. In late 2017, Congress enacted the Tax Cuts and Jobs Act, which limits the deductibility of state and local taxes (SALT) on federal returns to $10,000. The SALT cap served to increase the number of wealthy refugees fleeing these states seeking to establish primary residency in Florida to minimize federal income tax exposure.
But many higher tax states do not make it easy to simply renounce residency.
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