Forbes 400 Members Avoided State Death Taxes On $81 Billion In Wealth By Moving

 

A whopping $80.7 billion of 2001 Forbes 400 wealth escaped state estate taxes because billionaires moved to states without estate taxes through 2017, according to estimates from a new National Bureau of Economics research paper. Billionaires avoiding taxes, that’s a given. But the surprise finding is this: The revenues states can bring in from death taxes outweigh lost income taxes from the rich who flee. That’s significant because the case for taxing billionaire’s estates at death could be used to call for more broad-based state death taxes, even in states that don’t impose them today.

Forbes 400 Members Avoided State Death Taxes On $81 Billion In Wealth By Moving

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