Compare taxes and see how much you save moving from New York to Florida
The hidden trap: NYC residents face 12.7% combined state + city tax (3.876% NYC on top of 10.9% state). A $150,000 NYC earner pays ~$14,300 in state/city taxes vs $0 in Florida. But Florida's property insurance costs $3,000-$8,000/year vs NYC's included in rent. Choose Florida if: you're a high earner, remote worker, or retiree. Choose New York if: you need NYC job market access or rent-controlled housing.
High Tax State
Progressive + NYC tax
No Income Tax
Constitutional prohibition
At $100,000 income:
That is $908/month back in your pocket!
| Income | NY Tax | FL Tax | Savings | 10-Year |
|---|---|---|---|---|
| $50,000 | $2,850 (NY state only) | $0 | FL saves $2,850 | $28,500 |
| $75,000 | $4,600 (NY state only) | $0 | FL saves $4,600 | $46,000 |
| $100,000 | $6,500 (NY state only) | $0 | FL saves $6,500 | $65,000 |
| $100,000 (NYC) | $9,500 (state + city) | $0 | FL saves $9,500 | $95,000 |
| $150,000 (NYC) | $14,300 (state + city) | $0 | FL saves $14,300 | $143,000 |
| $250,000 (NYC) | $26,500 (state + city) | $0 | FL saves $26,500 | $265,000 |
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Moving from New York to Florida? Multi-state returns are tricky—partial-year residency, different deadlines, avoiding double taxation. Get matched with a CPA who specializes in state moves. Virtual meetings, fixed pricing.
⚠ Not for simple single-state returns. Free filing is fine for straightforward W-2 situations.
Get Matched With a CPA →A $150,000 NYC earner saves approximately $14,300/year (10.9% state + 3.876% city tax eliminated). Over 10 years: $143,000. However, factor in Florida's property insurance ($4,000-8,000/year) and car costs ($800+/month) if moving from car-free NYC. The savings are clearest for remote workers keeping NYC salaries.
Significantly. Upstate NY (Albany, Buffalo, Syracuse) has no city income tax—only the state's 6.85%-10.9% rates apply. A $100,000 earner pays ~$6,500 upstate vs ~$9,500 in NYC. The Florida advantage shrinks from $9,500 to $6,500. If you value seasons and lower housing costs, upstate may beat Florida on total costs.
Major difference: New York has a steep estate tax starting at $6.94 million (vs federal $13.61M) with rates up to 16%. Florida has zero estate tax—a key reason wealthy retirees relocate. A $10 million estate pays roughly $400,000 in NY estate tax vs $0 in Florida. Combined with no income tax, Florida dominates for wealth preservation.
Yes—Florida's insurance crisis is real. Average homeowner's insurance: $4,000-6,000/year statewide, $8,000+ in coastal areas. Some carriers have left the state entirely. Hurricane Ian in 2022 devastated the market. NYC renters pay nothing ($0 for renter's insurance equivalent); NYC homeowners pay $1,000-2,000/year. Factor this into your total cost comparison.
Risky. NY aggressively audits claimed Florida residents, especially high earners. They count days in each state, examine where your doctors/accountants are, and review credit card transactions. The '183-day rule' (spend less than 183 days in NY) is just the start—you need to prove Florida is your real home. Botch this and you owe NY taxes plus penalties.