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Massachusetts is in danger of losing nearly billion in annual revenue over the coming years due to high state taxes triggering an exodus of wealthy residents. Migration out of Massachusetts has seen a significant increase since 2013, with more than 39,000 people leaving the state. If the trend continues, more than 96,000 residents making a cumulative .2 billion in adjusted gross income will leave the state by 2030, costing Massachusetts about 1 million in income tax revenue each year. Residents cited high tax burden, expensive housing, and healthcare costs as reasons for relocating. Popular destinations for residents fleeing Massachusetts include Florida, New Hampshire, Maine, North Carolina, and Texas. Census data suggests a broader trend of residents moving from higher-tax states to states with lower taxes.<\/p>\n","protected":false},"author":6,"featured_media":13075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1521,862,5800,6393,8625,186,3385,3748,5663,8569,1240,2511,5516,2369,2933,5634,280,3251,11156,8285,5596,415,210,793,11157,6654,2294,3398,4773,1823,67,899,387,821,11158,9597,393,864,1033,10075,4620,5612,433,7967,1065,6917,4771,1183,4227,618,7850,380,10262,2343,4928,6305,9204],"class_list":["post-13074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-1521","tag-age","tag-americans","tag-analysis","tag-april","tag-business","tag-california","tag-census","tag-chairman","tag-citizens","tag-clear","tag-costs","tag-danger","tag-data","tag-dividend","tag-dividend-income","tag-editorial","tag-england","tag-exodus-of-wealthy-residents","tag-expensive","tag-families","tag-government","tag-health","tag-healthcare","tag-high-state-taxes","tag-housing","tag-income","tag-income-tax","tag-income-taxes","tag-increase","tag-inflation","tag-interest","tag-lost","tag-migration","tag-migration-patterns","tag-move","tag-new-york","tag-population","tag-prices","tag-remote-work","tag-report","tag-revenue","tag-school","tag-state","tag-tax","tag-tax-burden","tag-tax-revenue","tag-taxes","tag-tennessee","tag-top","tag-university","tag-us","tag-view","tag-voting","tag-wealthy","tag-who","tag-workers"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n