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The fiscal exodus from New York to Florida
Republican President of the State of New York, Nick Langworthy, about the exodus of New York residents of the state with high tax rates and prospects for the state of New York. New York economy.
The militant billionaire investor Carl Icahn settles in Florida and his employees can receive compensation for moving or applying for unemployment.
In May, Icahn wrote to his associates urging them to make the move as he moved the offices of Icahn Enterprises in New York and White Plains in Miami next year, the New York Post reported.
According to the report, all employees who move will earn at least as much in salaries and bonuses as next year in 2018, and those who are laid off before the end of March 2023 will receive the same amount, according to the report. They will also receive a "relocation allowance" of $ 50,000 after moving.
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For employees who wish to stay in New York, Icahn wrote that the company "will not dispute your claim for unemployment," according to the report. But these employees can expect to earn a maximum of $ 11,700 over 26 weeks, much less than current earnings.
Icahn reportedly wrote in his letter that settling in Florida was "not an easy decision to make".
"After spending my entire career in New York, although I certainly do not want to retire, I decided that at this stage of my life, I would like to enjoy a warmer climate and a more relaxed all year round, "said the president. Post quoted in his letter.
Aerial dusk at Brickell Miami
Florida has a reputation for being a popular place with aging Americans, but it has experienced a population explosion thanks to President Trump's 2017 tax and employment reduction bill.
A person earning $ 650,000 will save more than $ 69,000 in taxes a year from New York to Florida, the FOX Business report said. For a person like Icahn, whose net worth is $ 17.6 billion, according to Forbes, these savings could really accrue.
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