Mona Shah Quoted in IMI on US Internal Migration Trends
Managing Partner Mona Shah was quoted in Investment Migration Insider (IMI) within an article examining domestic migration within the United States, largely driven through tax policy and quality of life considerations.
The article, published on January 6, draws attention to a sustained movement away from high-tax states like New York and California towards lower-tax jurisdictions, particularly Texas. This marks the sixth consecutive year in which high-tax coastal states have experienced net population losses.
Commenting on the trend, Mona reveals that the data mirrors what she is seeing first hand within her legal practice, Mona Shah and Partners Global, confirming a large amount of clients are now based in traditionally low tax states.
“The exodus is real and significant” Mona told IMI confirming a notable uptick in clients who have relocated “specifically for tax advantages”, a trend observed particularly since the Covid period.
Additionally, the article explores the complexity behind such decisions, noting that tax benefits are not always straight forward. Mona points to factors such as higher property taxes and the culture trade offs associated with leaving economic hubs such as New York.
To read the full article, please see the link here.
The post Americans Continue Exodus from High-Tax States, Sixth Year Running appeared first on Mona Shah & Partners Global.