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IN CASE YOU MISSED IT…. Fox Business: “NY, NJ exodus to Florida fueled by 'tax hell': Official”

5/25/2021

For Immediate Release: Tuesday, May 25, 2021
Contact: Office of Communications, Communications@MyFloridaCFO.com, 850.413.2842

IN CASE YOU MISSED IT….
Fox Business: “NY, NJ exodus to Florida fueled by 'tax hell': Official”

NY, NJ exodus to Florida fueled by 'tax hell': Official
Fox Business
Talia Kaplan
To read story, click here.
To watch interview, click here.
Florida Chief Financial Officer Jimmy Patronis argued on Monday that people are leaving states that are "financial train wrecks," like New York and New Jersey, and moving to Florida to escape a "tax hell."

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Florida lets people "keep their money" unlike some blue states, which he said are "upside down," he stressed.

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"If you’ve got a couple, let’s just talk about the empty nesters from New York, or the empty nesters from New Jersey… They then decide to leave the tax hell that those states are in and move to the state of Florida," Patronis said.

"They’re going to bring their investments, their retirement, wealth, and they’re going to move to the state of Florida," he continued, noting that they are going to move to a state with lower taxes, but because they are empty nesters, they won’t have children in the school system.

"It’s a win-win," he said.

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About CFO Jimmy Patronis 
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).