The Growing State Tax and Jobs Divide

In this presentation, attorney and CPA Chad D. Cummings breaks down the stark divide highlighted by The Wall Street Journal in its April 14, 2026 editorial "The Growing State Tax and Jobs Divide." Since January 2020, high-tax states like California (-1.2%), New York (-1.3%), Massachusetts (-1.4%), and Oregon (-3%) have experienced net losses in private-sector jobs, while low-tax states have seen strong gains — Texas +10%, Florida +8.5%, North Carolina +7.9%, and Arizona +7.3%. The Journal makes clear that high individual income tax rates are hitting small businesses especially hard because most operate as pass-through entities (LLCs, S corps, and partnerships), where business income is taxed at the owner’s personal rate. Chad explains why redomestication is the smartest and most efficient way for business owners to move their existing company from a high-tax state to a low-tax state without dissolving the entity, without forming a new company, without losing their FEIN, and without triggering federal taxes. Avoid the costly mistakes of dissolution, foreign entity registration, or mergers. If you're a small or mid-sized business owner in a high-tax state, this presentation shows you how to protect your company and take advantage of the growing economic opportunity in low-tax states. Learn more: https://www.cummings.law/redomestication/