Wealthy Californians Flee 13.3% Tax Rate for Nevada's 0% Income Tax
Updated
Updated · Fox News · Jun 26
Wealthy Californians Flee 13.3% Tax Rate for Nevada's 0% Income Tax
3 articles · Updated · Fox News · Jun 26
Summary
$1 million earners can save more than $130,000 a year by moving from California to Nevada, a gap that is accelerating migration by wealthy residents and business owners.
California's 13.3% top income tax is being compounded by mansion taxes and proposals for exit and billionaire wealth taxes, deepening fears that high earners will face ever-broader levies.
A failed plan to tax some former residents for up to 10 years after leaving still rattled investors, reinforcing concerns about policy unpredictability rather than just current tax bills.
Nevada is benefiting from that contrast with no state income or wealth tax, lower housing costs and cities such as Las Vegas, Reno and Henderson drawing entrepreneurs, executives and retirees.
Remote work has made relocation easier, turning the tax gap into a broader challenge for California as affluent households reassess whether the state's advantages still outweigh its costs.