Practitioner’s Tax Action Bulletin® Advisory
Tax practitioners frequently consult with clients who are moving, or considering a move, to a new state. Relocations are often driven by significant life events such as a change in family situation, a new job, or retirement, but may also be motivated by the desire to reduce state tax burdens. Based on data from the U.S. Census Bureau, approximately 7.6 million people migrated between states in 2023. California had the highest net outbound migration with a net loss of 268,052 residents, followed by New York, with a net loss of 178,709 residents. Texas had the highest net inbound migration of any state, with an overall increase of 133,372 residents, followed closely by Florida, with a net gain of 126,008 residents.
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