California's 13.3% income tax is the highest in the U.S. The exodus of high earners is well-documented. South Florida is one of the primary landing points.
Guide for California buyers relocating to South Florida. Save up to 13.3% state income tax, comparable coastal lifestyle at lower cost, and Broward neighborhoods that match Bay Area and LA living.
California's top marginal state income tax rate is 13.3%, the highest of any U.S. state. For a California tech executive earning $500,000, moving to Florida saves $66,500 per year in state income tax alone. For a $1M earner, the savings approach $133,000 annually. California also taxes capital gains at ordinary income rates, up to 13.3% on long-term gains, compared to Florida's 0% (only federal applies). For founders and executives with significant stock option or equity income, the California capital gains tax is often the single largest motivating factor in the move decision. California is...