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5 Financial Benefits of Making the Move to Florida

Posted on: August 4, 2020

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Dreaming of moving to Florida? You’re not alone. Every year, the Sunshine State attracts thousands of new residents to its beautiful beaches and relaxing lifestyle. Did you know life in Florida also means taking advantage of unparalleled financial benefits and a strong economy? Here are just a few reasons why you should consider the migration northeast Florida.

1. No Individual Income Tax

Florida is one of only seven states in the US that doesn’t collect an individual income tax. It’s no wonder Florida attracts so many residents from highly taxed states. Moving from a state like New York or Massachusetts can save you thousands of dollars in taxes every year and that’s just the beginning. The Florida Constitution prevents counties and municipalities from imposing any sort of income tax at local levels too. So you’ll never have to worry about that changing anytime in the future.

2. No State Estate Tax

Although Florida used to collect a state estate tax in the form of a “pick-up tax,” some changes in federal law resulted in its phasing out back in 2005. While many states took steps to keep the state death tax revenues flowing, Florida’s constitution prohibits the imposition of a state death tax. Moving to Florida from a state that has a high estate tax help save families a considerable amount of money.

3. Home to Top Advisors

Florida is home to some of the country’s top wealth strategists, tax advisors, and estate planning attorneys. With their experience and proactivity, their clients have one of the greatest assistances with maximizing their money, minimizing taxes, avoiding probate, and creating an ongoing legacy for their families. Knowing the State of Florida has the industry’s top professionals, residents have the ease of mind when it comes to their financial futures.

4. Economic Expansion

Florida is one of the country’s economic powerhouses. In fact, it’s the third-largest state in the country by population and has the fourth biggest economy with more than $1 trillion in Gross Domestic Product annually. Florida’s economy is very diverse, with tourism, agriculture, aerospace and aviation, and international trade among its
top industries. Out of all the areas in Florida, economic development is especially picking up in the Northeast area of the state. With residential and commercial development on the rise and the thriving economy to go with it, more and more residents and companies have decided to move to the booming North Florida area. Of the new business to be attracted to the area, several headquarters of major companies such as Amazon, Mercedes Benz USA and KLS Martin have made it their new home.

5. Affordable Living

There’s just no state like Florida that offers these amazing financial benefits and a naturally beautiful place to live as well. For those who are looking to make a move, be sure to check out Tributary, a new master-planned community in Northeast Florida. No matter which stage of life you’re in, Northeast Florida sets up its new residents for success and the best opportunity to flourish with their family and friends.

Set to begin sales this summer, Tributary perfectly embodies the Northeast Florida way of life with its natural setting among the multiple state parks and forests while just minutes from the cultural scene and business center of downtown Jacksonville. Residents are only minutes from the international airport and beautiful Amelia Island with its picturesque waterfront, amazing dining and entertainment, and eclectic yet charming atmosphere.

Future residents of Tributary are invited to “Explore More” with a thoughtfully planned trail system that connects to Four Creeks State Forest and Tributary Park, a regional family-oriented public park with river access for kayaking, sports fields, playgrounds and more. Within the 1,550-acre master-planned community, residents will also enjoy the resort-style pool, fitness center and activities at the fun-filled Amenity Center. Homes will be offered from the $200s and interested homebuyers can download the complimentary digital brochure at tributaryfl.com to ensure they are first to learn about plans for the Model Home Grand Opening this summer.

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