Reported 5 months ago
A recent study from Boston University's Questrom School of Business indicates that Massachusetts could lose nearly $1 billion in tax revenue annually by 2030 due to wealthy residents leaving the state because of high taxes and housing costs. The trend of residents moving out of Massachusetts to other states, such as Florida and New Hampshire, has accelerated during the pandemic as remote work opportunities have made it more feasible to live elsewhere. If this trend continues, over 96,000 residents making $19.2 billion in income could leave the state annually by 2030, resulting in a significant loss of tax revenue for Massachusetts.
Source: YAHOO