Former Starbucks CEO Schultz moves to South Florida

Howard Schultz spent more than four decades building Starbucks in Seattle. Now he has joined a growing list of billionaires relocating to South Florida alongside Jeff Bezos, Ken Griffin, Mark Zuckerberg, Sergey Brin, Larry Page, Peter Thiel, and others. In this presentation, attorney and CPA Chad Cummings examines why high-net-worth individuals and family offices are concentrating in Miami-Dade, Broward, and Palm Beach counties and what this migration signals about tax policy, capital flows, and the future of the American business landscape. The discussion explains how Florida’s absence of a state personal income tax, combined with a pro-business legal environment and strong property rights protections, creates powerful incentives for entrepreneurs and investors whose income flows through pass-through entities such as LLCs, S corporations, and partnerships. The presentation also addresses a critical issue many relocating business owners overlook: moving your personal residence to Florida does not automatically relocate your company to Florida. Finally, the presentation explains why properly executed statutory redomestication is usually the correct method for moving an existing company to Florida while preserving the entity’s EIN, contracts, credit history, and tax attributes, and why common alternatives such as dissolution, merger, or foreign registration frequently create unnecessary legal risk and tax exposure. Learn more: https://www.cummings.law/redomestication/