Florida, the Tax Haven

Florida has evolved into a U.S. tax and creditor protection haven, seducing wealthy individuals to migrate south. One of the biggest draws is that Florida imposes no income tax on individuals and trusts.1 As of Jan 1, 2006, there's also no state estate tax, gift tax or inheritance tax.2 This bodes well for clients domiciled in the Sunshine State, as compared to clients domiciled in, for example, our