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BTW, NJs threshold for estate taxes is the lowest in the nation at $675k (NY is $3.125m and rising to over $5m). A gargantuan reason people flee the state as well as they begin thinking about their estates. At $675k I don't even know if it can be called an estate.
CC has proposed the elimination of this ridiculous tax but of course he has been met with opposition.
The inheritance tax is a bigger problem. It starts at $500 for anybody but your spouse, children, or grandchildren. If your brother leaves for Florida and leaves you (still in NJ) money in his will, you will pay taxes on the amount over $500.
The reasons for the departure of Millennials is not really defined in the article referenced above. Does that include students going to college outside NJ? There are not many 18-22 year olds with undergrad degrees or major earning potential. Including them in the survey is disingenuous.
BTW, NJs threshold for estate taxes is the lowest in the nation at $675k (NY is $3.125m and rising to over $5m). A gargantuan reason people flee the state as well as they begin thinking about their estates. At $675k I don't even know if it can be called an estate.
CC has proposed the elimination of this ridiculous tax but of course he has been met with opposition.
Thatsn ot true..there are states with no property/income tax/inheritance tax....
Thatsn ot true..there are states with no property/income tax/inheritance tax....
Huh? The threshold being the lowest in the nation means the inheritance tax KICKS IN at the lowest level. It doesn't mean the tax is the lowest in the nation. Quite the opposite. It hits almost anyone with any acquired lifetime equity.
Huh? The threshold being the lowest in the nation means the inheritance tax KICKS IN at the lowest level. It doesn't mean the tax is the lowest in the nation. Quite the opposite. It hits almost anyone with any acquired lifetime equity.
HA I am from NY and took a job in Tampa. I tell you it was the worst decision I have ever made in my life.
Where do i begin...
The electric and water prices are completely out of control down in Tampa. Forget going to a fish market too.
People making bread should never be allowed back into the bakery. the bread is disgusting.
Schools are a disaster, ugly fat and uneducated workforce here, there are very limited job opportunities,
like I sad I was brought down for an IT company, and I hook a huge salary hit, because I stupidly thought
costs were lower here. I couldn't have been more wrong.
the kids have a month left and they are finished with school we are out of this horrible place back to NJ with pleasure
All the florida fans you know what I wrote is true so don't waste time rebuking what I said
HA I am from NY and took a job in Tampa. I tell you it was the worst decision I have ever made in my life.
Where do i begin...
The electric and water prices are completely out of control down in Tampa. Forget going to a fish market too.
People making bread should never be allowed back into the bakery. the bread is disgusting.
Schools are a disaster, ugly fat and uneducated workforce here, there are very limited job opportunities,
like I sad I was brought down for an IT company, and I hook a huge salary hit, because I stupidly thought
costs were lower here. I couldn't have been more wrong.
the kids have a month left and they are finished with school we are out of this horrible place back to NJ with pleasure
All the florida fans you know what I wrote is true so don't waste time rebuking what I said
I thought about FL over 10 years ago, but didn't like the idea after research because of people like you said the same thing.
It's about bunch of outsourcing chop shops down there that outsources jobs from all parts of the country are down there because of no state taxes.
When you look at the housing market down there and even up to now in Tampa, a lot of homes are foreclosed when they hit over $300k but are really worth under $200k and the only people flocking down there are Indian people being hired for IT jobs. If you are really well paid down there you can live in an expensive town and have better school but those are like gated communities. There are folks down there doing what I do and making 1/2 of what I make, sure things are cheaper but not that much cheaper when you look at the value overall.
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