Bailing On California Due To High State Taxes
Many top-earning residents in California are ready to leave for good due to the excessive taxes they are required to pay. From winery owners in Napa Valley to popular sports figures, high-income residents who have been loyal to “The Golden State” are simply fed up.
Golfer Phil Mickelson has openly voiced his feelings about the issue and did not hesitate to disclose that he has considered leaving California, although he later regretted being so vocal. Other top earners are also speaking out about their plans to leave the state, and these residents have plenty of options that will be much easier on their pockets.
The southern state of Texas is a very attractive option for many high-income residents of California. The income-tax rate in this state is zero, which is a huge difference from the excessively high 13.3% tax rate … Read the rest