Last year billionaire hedge fund manager David Tepper held the title of New Jersey’s richest. But he has since moved (along with his $19 billion firm) to Florida, a state with no estate or personal income tax. Advantageous for him, perhaps: he logged about $1.2 billion in earnings in 2015. Not so much for the Garden State, as it might suffer a budget shortfall once Tepper stops contributing to its tax roll.
Last year billionaire hedge fund manager David Tepper held the title of New Jersey’s richest. But he has since moved (along with his $19 billion firm) to Florida, a state with no estate or personal income tax. Advantageous for him, perhaps: he logged about $1.2 billion in earnings in 2015. Not so much for the Garden State, as it might suffer a budget shortfall once Tepper stops contributing to its tax roll.
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