Washington State has no income tax, same as Florida. But Seattle buyers move for the ocean, the warmth, and to escape the capital gains tax that now applies to RSU and equity income, plus Washington's estate tax on estates over $2.2M.
Guide for Washington State buyers relocating to South Florida. Seattle and Eastside tech wealth to Fort Lauderdale and Boca Raton. Capital gains tax, estate tax, lifestyle upgrade, and the neighborhoods where WA buyers land.
The Amazon and Microsoft generations created concentrated, equity-based wealth across the Seattle Eastside. Employees who joined these companies in the 2000s and 2010s accumulated RSU packages that vested into seven and eight-figure portfolios. For years, Washington's zero income tax made Seattle a uniquely tax-efficient address for this cohort. That calculation changed in 2022 when Washington enacted a 7% capital gains excise tax on long-term gains above $262,150. For someone selling $1M in appreciated stock or RSUs, that is $51,000 in Washington state tax that Florida does not charge. For t...