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In this video we look at leaving New York for a more tax advantaged state and all the options you could go for. There has been a trend of people leaving high tax states such as NY, CA etc… Leaving California being somewhat of a trend over the last week. So if New York taxes are getting you down, this video os for you.
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34 comments
Check out my original video on my second channel, where I go into greater detail on the tax situation in NY State and City:
Need to have this type of analysis for all 50 states lol Also, surprised he didnt mention Delaware
Come to Cleveland or Columbus, OH! 5% state tax yes. But easy drive to NY and its city enough and super cheap relative to NY. Our bad rap keeps us under valued, but everyone I know who has moved here realizes its a sleeper 🙂
Hi Shifu. I live in Puerto Rico and although the state tax is low and we don’t pay federal income tax we do have sales tax of 11.5% and bunch of other taxes and getting a permit to start a business is very hard not to mention the quality of life here is no the best. So if anyone is thinking about moving to the island think about it twice and to the math. Many people have been moving out of the island to Florida where they enjoy practically the same weather and better quality of life.
Pre-covid, I commuted from Philly to Manhattan every day for work. Easy peasy and a whole lot less in taxes. Plus, tons of New Yorkers here.
That's Democrats for ya
While we'd happily welcome the Credit Shifu to Pennsylvania, I shudder to think how much more this will encourage NYCers to continue invading Philadelphia. #keepnycoutofphilly 😉
Nashville sucks.
I don't think I could ever leave LA I've been here my whole life and can't see myself moving to Vegas. Don't have the luxury to work from a computer either /:
Pennsylvania is definitely a lot more relaxed than New York on several things. Research the local income taxes and real estate for the County.
I grew up in the state of new York (no where near the city) and also left the state because of taxes and the job market.
Come to South Dakota!
WTF is everyone problem with him LOL!!!
Ah ha! Now we know where you live!!! 🙂
The Credit Shifu my man I live in Puerto Rico, and State+ City taxes here are 11.5% combined. I love my island but there’s also a huge corruption issue and one of the highest violence rates in the US. I wish in the future we could be a better option for investors like you to move your business to our island and hopefully make our economy bloom. Most people here rather take federal aids than work and that by it self brings a lot of the issues I mentioned in my comment. Maybe when you’re older you can retire here, no snow here thats for sure haha
PR is cheap because you'll be paying money to protect against hurricanes.
Step 1: Ruin a State. Step 2: Flock to new State. Step 3: Ruin new State. Rinse, repeat.
I might have missed it, but why do you need to be close to NYC?
What an useless video and a waste of time . PS: Despite Fast Forwarding it!
Virgin Islands is where it’s at. Lots of hedge fund guys set up shop there
Don’t move to a new place and vote in the same failing policies you ran from
For some reason I thought you were out in long Island, as a fellow person in the HV moving to PA is very attractive even more so if you own a business. And with everything you left less then an hour away via 84, its a great way to avoid homesickness. Also you still get the snow.
Love the “consult your CPA” disclaimer at the beginning.
Leave glorious revolutionary humanist socialist people's NYC?
Left California for Tennessee!
How often do you post video on biz shifu?
Thought he lived in New Jersey 🤔
I think you can register a company in Wyoming, but live in another state with no state income tax, and avoid paying excise tax this way.
Mostly importantly you wanna move out of the blue, right?
Puerto rico has commonwealth income taxes though, which are much lower than federal+ state. If you make over 60k, its 33 percent. Cant be higher than that.
Pennsylvania resident here. (Western side of the state though.)
We welcome you!
hey…. umm what about delaware? they dont have a sales tax and their property tax is SUPER LOWWWWWW.. maybe delware should replace NH
Lol new Hampshire over Florida? This guy loves NY too much to actually leave.
This is how all classes fed up with death taxes, limited jobs, business owners struggling to keep up rents, bills, and employees.
Democrats love to squeezes hardworking taxpayers every paycheck into dust, not even a single fly or penny & create less limited jobs. I haven't seen them never doing anything but wasting non-sense stuff.
People of NYC just keep vote Democrats or else don't come crawling back begging for help.