Paul L. Caron
Dean


Thursday, September 19, 2019

Carl Icahn Is Moving From NY To Florida For Lower Tax Rates

Bloomberg, Carl Icahn Is Heading to Florida for Lower Tax Rates:

Billionaire Carl Icahn is planning to move his home and business to Florida to avoid New York’s higher taxes, according to people familiar with the matter.

Icahn, 83, who was born in the Far Rockaway neighborhood in Queens, New York, has been an icon on Wall Street for decades. In the 1990s, he bought a mansion in the exclusive Indian Creek island enclave on Biscayne Bay in Miami.

The move is scheduled for March 31 and employees who don’t do so won’t have a job, said the people, who asked not to be identified because the matter was private.

https://taxprof.typepad.com/taxprof_blog/2019/09/carl-icahn-is-moving-from-ny-to-florida-for-lower-tax-rates.html

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Comments

Good riddance!

Posted by: andrew | Sep 19, 2019 1:03:51 PM

In addition to income tax considerations, there is also the estate tax difference which could be considerable in his case. He's 83 years old and while he has a perfect record of surviving so far, the prognosis for the long term is not promising.

Posted by: Joseph W. Mooney | Sep 20, 2019 6:28:18 AM

A guy who has more vastly money than he can spend in the short remainder of his life is uprooting his life because he is mad he has to pay any state-level taxes. Such is the level of civic obligation today.

Posted by: Unemployed Northeastern | Sep 20, 2019 12:35:31 PM