Report: How Much Americans Save on Taxes by Moving to Florida

In this presentation, attorney and CPA Chad D. Cummings breaks down the massive tax savings available to high-income earners and business owners who move to Florida. According to Barron’s (April 20, 2026), a New Yorker earning $1 million per year saves $104,600 annually in state income taxes by relocating to Florida—that’s $1.046 million over 10 years. A Californian in the same income bracket saves $130,000 per year. These savings don’t stop at income taxes—Florida also has no estate tax or inheritance tax, potentially saving hundreds of thousands or even millions more at death. Chad explains how these tax advantages compound for business owners with pass-through entities and why simply moving personally while leaving the company behind is only half the solution. He then shows why redomestication is the cleanest, most tax-efficient way to move your existing LLC, corporation, or partnership to Florida without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you’re a high-income business owner tired of losing six and seven figures to high state taxes, this presentation gives you the numbers and the practical legal path forward. Learn more: https://www.cummings.law/redomestication/