New York vs Florida Taxes 2026: NYC Triple-Tax Breakdown

Q: How much do you save on taxes moving from NYC to Florida?

The savings depend heavily on income type and level. A self-employed freelancer earning $100,000 net profit saves approximately $11,805 per year in total taxes (NY state income, NYC city income, sales, and property combined). An S-Corp owner at $150,000 net profit saves roughly $17,541 per year — the largest gain from eliminating both NY state and NYC city income taxes. A W-2 employee at $100,000 saves approximately $12,895 per year. A retiree on $60,000 of mixed pension and Social Security saves about $3,742 annually (smaller because New York exempts Social Security and up to $20,000 of pension income). All figures use 2026 tax rates from TaxStackHub's State Tax Stack. Sources: NY Department of Taxation and Finance, NYC Department of Finance, Florida Department of Revenue, TaxStackHub State Tax Stack.

Q: What is the NYC city income tax rate in 2026?

New York City charges a separate city income tax on top of NY state income tax. The 2026 NYC city income tax rates for single filers are: 3.078% on the first $12,000 of income; 3.762% on income from $12,001 to $25,000; 3.819% on income from $25,001 to $50,000; and 3.876% on income above $50,000. This city tax applies to all NYC residents regardless of income source — wages, self-employment, S-Corp distributions, and retirement income (with the same NY state exclusions for Social Security and up to $20,000 of pension). Florida has no city income tax anywhere in the state. Source: NYC Department of Finance; NY Tax Law §§ 11-1701 through 11-1784.

Q: Why do NYC residents pay triple income taxes compared to Florida?

NYC residents face three separate income tax systems simultaneously: (1) Federal income tax — applies everywhere in the U.S., rates up to 37% in 2026; (2) New York State income tax — applies to all NY residents, rates from 4% to 10.9% (top rate at $25M+, most upper-middle earners are at 5.85%–6.85%); (3) New York City income tax — a separate city-level tax that only applies to NYC residents (not other NY state residents), rates from 3.078% to 3.876%. Florida residents only pay federal income tax — there is no Florida state income tax and no Florida city income tax. This triple-stack is unique to NYC and a small number of other U.S. cities. Source: NY Tax Law; NYC Admin. Code Title 11; Florida Statutes.

Q: Does Florida have a state income tax in 2026?

No. Florida has no individual state income tax in 2026. This applies to wages, self-employment income, S-Corp distributions, pension income, Social Security, capital gains, and all other personal income. Florida's prohibition on a personal income tax is embedded in the state constitution (Article VII, Section 5), which requires a supermajority vote to change. The state funds government primarily through sales taxes, property taxes, documentary stamp taxes, and tourism-related levies. Source: Florida Constitution Art. VII § 5; Florida Statutes § 220.

Q: Does New York tax Social Security and pension income?

New York State does NOT tax Social Security income — a significant benefit for retirees. Additionally, New York provides a pension and retirement income exclusion of up to $20,000 per year for taxpayers age 59.5 or older. This means a retiree with $20,000 Social Security and $40,000 pension pays NY state income tax on only $12,000 ($40K pension minus the $20K exclusion, minus the $8,000 NY standard deduction). This dramatically reduces NY's disadvantage for retirees vs Florida. However, NYC city income tax applies to whatever income remains taxable under NY state rules. Florida taxes none of these income sources. Source: NY Tax Law § 612(c)(3); NY Tax Law § 612(w); NYC Admin. Code § 11-1712.

Q: How do property taxes compare between New York City and Florida?

Property taxes are complex in both jurisdictions. NYC's effective property tax rate averages approximately 0.88% of market value, but assessment methodology varies significantly by property class — Class 1 (1-3 family homes) and Class 2 (condos/co-ops) have different assessment rules. On a $750,000 NYC apartment, annual property tax runs approximately $6,600. Florida's effective property tax rate averages 0.83%, slightly lower, but Florida homes typically cost less. On a $400,000 Florida home (with $50,000 homestead exemption reducing assessed value), annual property tax runs approximately $2,947–$3,154. The absolute dollar difference in property taxes heavily favors Florida. Additionally, Florida's homestead exemption provides creditor protection benefits California and New York do not match. Source: NYC Department of Finance; Florida Statutes § 196.031; TaxStackHub State Tax Stack.

Q: What are the downsides of moving from NYC to Florida for tax purposes?

Three main considerations: (1) Florida property and casualty insurance is significantly higher than New York's due to hurricane and flood risk. Coastal and South Florida homeowners can pay $4,000–$10,000+ per year in insurance vs $1,200–$2,500 in New York — partially offsetting income tax savings for homeowners. (2) New York State and New York City aggressively audit high earners who claim to have changed domicile. NY requires you to establish that your 'permanent place of abode' has moved and that you spend 183 days or fewer in NY. Documentation requirements are strict: NY Form IT-203, changes to driver's license, voter registration, doctor and dentist visits, club memberships, and where your family spends time. Many NYC residents who move to FL continue to spend enough time in NY to still owe NY taxes. (3) Career opportunities in some industries (finance, media, fashion, tech) remain concentrated in NYC, creating a real trade-off between tax optimization and professional advancement. Source: NY Tax Law § 605(b); NY Domicile Audit Handbook; Florida Insurance Market Reports.

Q: How do sales taxes compare between New York City and Florida?

NYC's combined sales tax is 8.875% in 2026 — composed of NY state 4.0%, NYC local 4.5%, and the Metropolitan Commuter Transportation District (MCTD) surcharge 0.375%. This is one of the highest combined rates among major U.S. cities. Florida's combined average is 7.01% (state 6.0% + avg local 1.01%). On $35,000 of annual taxable consumer spending, this difference amounts to approximately $652 per year ($3,106 NYC vs. $2,454 FL). Both jurisdictions exempt most food purchased for home consumption and prescription drugs from sales tax. NYC also exempts clothing items under $110. Source: NY Department of Taxation and Finance; NYC Department of Finance; Florida DOR; TaxStackHub State Tax Stack.

TaxStackHub Research Team

✦ State Tax Analysis · 2026

New York vs Florida
Taxes 2026

NYC residents face a tax structure no other major city matches: federal income tax, New York State income tax, and New York City income tax — all at once. Florida charges none of the last two. Full breakdown across four taxpayer profiles.

Published: May 3, 2026 · Data source: NY DTF, NYC Dept. of Finance, FL DOR, TaxStackHub State Tax Stack · Updated for 2026 OBBBA rates

NY State Top Rate

10.9%

On $25M+ income (most ~5.85–6.85%)

NYC City Income Tax

3.876%

On income over $50K (city-only)

FL State Income Tax

$0

No personal income tax, ever

NYC Combined Rate (top)

~14.8%

NY state + NYC city at top brackets

NYC Sales Tax

8.875%

State 4% + City 4.5% + MCTD 0.375%

FL Sales Tax Avg

7.01%

State + local combined avg

The NYC Tax Triple-Stack

Most state tax comparisons are two-layer: federal vs state. NYC is three. Every dollar of income earned by an NYC resident runs through three separate tax systems. Florida residents only run through one. This is the structural difference that makes NYC vs Florida the most dramatic income tax comparison in the United States.

NYC Resident Income Tax Structure — 2026

Three Layers on Every Dollar

1

Federal Income Tax

Applies to all U.S. residents regardless of state or city

Up to 37%

+

2

New York State Income Tax

Applies to all NY state residents. Brackets 4%–10.9%. Most upper-middle earners: 5.85%–6.85%

Up to 10.9%

+

3

NYC City Income Tax

Only applies to NYC residents (not other NY state residents). Brackets 3.078%–3.876%

Up to 3.876%

=

NYC top combined marginal rate (all three layers)

Up to 51.8%

A Florida resident in the same bracket faces only the federal layer. The NY state + NYC city combination tops out at 14.776% combined — on top of federal. Most NYC residents at $100K–$200K income are in the 5.85%+3.876% = 9.73% combined state+city bracket. That 9.73% is the number that goes to zero when you move to Florida.

Head-to-Head: Full Tax Overview

The structural comparison before we run the numbers through real profiles.

Tax Category	New York (NYC Resident)	Florida
Personal income tax layers	3 (federal + NY state + NYC city)	1 (federal only)
NY State top income tax rate	10.9% (on $25M+)	N/A
NYC city income tax rate	3.078%–3.876%	$0 — no city tax
$100K W-2 state+city income tax (est.)	~$8,393 (NY: ~$4,952 + NYC: ~$3,441)	$0
NY state standard deduction (single)	$8,000 (no QBI deduction in NY)	N/A (no income tax)
S-Corp entity-level tax	NY: No S-Corp income tax (unlike CA). Small fixed fee applies.	None
NY Paid Family Leave (W-2 employees)	0.373% on wages (capped at ~$373/yr)	None
Sales tax (combined avg)	8.875% (NYC: state 4% + city 4.5% + MCTD 0.375%)	7.01% (state + local combined)
Effective property tax rate (avg)	~0.88% (NYC residential)	~0.83% (statewide avg, after homestead)
SS income taxed by state?	No — NY excludes Social Security income	No — FL has no income tax
Pension income exclusion	Up to $20,000/yr excluded for age 59.5+	N/A ($0 state income tax)
Capital gains (state)	Taxed as ordinary income (NY state + NYC city)	0%
Estate tax	Yes — NY estate tax starts at $7.16M (2026)	None

⚠ Key note: NY has an estate tax, FL does not

Unlike California and Florida (which have no state estate tax), New York has its own estate tax starting at approximately $7.16 million in 2026 (adjusted annually). This is especially relevant for high-net-worth NYC residents. Florida's constitution prohibits a state estate tax, making it substantially more favorable for estate planning. For most taxpayers under $7M in assets, this is not a factor — but it matters for business owners with valuable S-Corp equity.

4 Taxpayer Profiles: NYC vs Florida

The same income, run through both jurisdictions. Federal taxes are identical; only state and city taxes change. Assumptions: single filer, standard deduction, taxable consumer spending noted per profile. NYC property: $750K estimated market value. FL property: $400K home with $50K homestead exemption.

1

Freelancer / Sole Proprietor

$100,000 net profit · Single · Self-employed · NYC resident

NY State does not conform to the federal QBI deduction (OBBBA 23%) or the larger federal standard deduction. NY taxes self-employment income with its own standard deduction of $8,000 — so more income is subject to state tax than federal. Both NY state and NYC city income taxes apply.

Tax Component	NYC (NY State + City)	Florida	Notes
SE Tax (federal)	$14,130	$14,130	15.3% on 92.35% of net profit. Same everywhere.
Federal Income Tax	$7,358	$7,358	After SE deduction + 23% QBI (OBBBA). Same everywhere.
NY State Income Tax	$4,539	$0	NY brackets up to 5.85% on $84,935 NY taxable income ($8K std ded, no QBI).
NYC City Income Tax	$3,168	$0	3.078%–3.876% on $84,935. This layer doesn't exist outside NYC.
Sales Tax (est. $35K spend)	$3,106	$2,454	NYC 8.875% vs FL 7.01% combined avg.
Property Tax (est.)	$6,600	$3,154	NYC $750K @ 0.88% effective; FL $400K @ 0.83% w/ homestead.
Total Annual Tax Burden	$38,901	$27,096	Save ~$11,805/yr in FL
Effective Rate (% of $100K)	38.9%	27.1%	11.8 percentage points

✦ Bottom Line — Freelancer

Florida saves ~$11,805 per year on a $100K self-employment income.

The NYC triple-stack costs this freelancer $7,707 in NY state + NYC city income taxes alone. Florida eliminates all of it. Add lower sales tax ($652/yr) and lower property tax ($3,446/yr) and the gap widens further. Over 10 years (same income): $118,050 in cumulative tax savings — enough to buy a second Florida property.

2

S-Corp Owner

$150,000 net profit · 60% salary / 40% distributions · Single · NYC resident

Salary: $90,000 W-2 · Distributions: $60,000. NY State does not allow a QBI deduction — the full $150K pass-through income is subject to both NY state and NYC city income tax at graduated rates. Unlike California, NY does not impose a separate 1.5% S-Corp entity tax.

Tax Component	NYC (NY State + City)	Florida	Notes
Federal Income Tax	$21,936	$21,936	Salary + distributions, std ded, 23% QBI on distributions. Same.
FICA Payroll Taxes (both sides)	$13,770	$13,770	7.65% × $90K × 2 (employee + employer). Same everywhere.
NY State Income Tax	$7,877	$0	NY brackets on $142,000 NY taxable income (no QBI deduction in NY).
NYC City Income Tax	$5,379	$0	3.078%–3.876% on $142,000. Unique to NYC residents.
Sales Tax (est. $45K spend)	$3,994	$3,155	NYC 8.875% vs FL 7.01% combined avg.
Property Tax (est.)	$6,600	$3,154	NYC $750K @ 0.88%; FL $400K @ 0.83% w/ homestead.
Total Annual Tax Burden	$59,556	$42,015	Save ~$17,541/yr in FL
Effective Rate (% of $150K)	39.7%	28.0%	11.7 percentage points

✦ Bottom Line — S-Corp Owner

Florida saves ~$17,541 per year on a $150K S-Corp income.

The NY state + NYC city income taxes alone account for $13,256 of the gap — $7,877 in state tax and $5,379 in city tax. Florida eliminates both. Note that unlike California, New York does not impose a separate 1.5% S-Corp entity-level income tax — so the NY S-Corp disadvantage is entirely at the personal income level, not entity level.

3

W-2 Employee

$100,000 salary · Single · Standard deduction · NYC resident

W-2 employees in NYC also pay NY Paid Family Leave (PFL) and NY Disability Benefits Law (DBL) contributions — small but notable. NY PFL: 0.373% on wages (capped at ~$373/yr). NY DBL: ~$31/yr max. Total: ~$404/yr with no FL equivalent.

Tax Component	NYC (NY State + City)	Florida	Notes
Federal Income Tax	$13,615	$13,615	W-2, standard deduction, no QBI. Same everywhere.
Employee FICA	$7,650	$7,650	7.65% of $100K salary. Same everywhere.
NY State Income Tax	$4,952	$0	NY brackets on $92,000 NY taxable income ($8K NY std ded).
NYC City Income Tax	$3,441	$0	3.078%–3.876% on $92,000. Only applies to NYC residents.
NY PFL + NY DBL	$404	$0	NY Paid Family Leave (0.373% capped) + NY Disability Benefit (~$31 max).
Sales Tax (est. $35K spend)	$3,106	$2,454	NYC 8.875% vs FL 7.01% combined avg.
Property Tax (est.)	$6,600	$3,154	NYC $750K @ 0.88% effective; FL $400K @ 0.83% w/ homestead.
Total Annual Tax Burden	$39,768	$26,873	Save ~$12,895/yr in FL
Effective Rate (% of $100K)	39.8%	26.9%	12.9 percentage points

✦ Bottom Line — W-2 Employee

Florida saves ~$12,895 per year on a $100K NYC salary.

The NYC triple-stack costs this W-2 employee $8,393 in NY state + city income taxes plus $404 in PFL/DBL contributions — all zero in Florida. Important caveat: W-2 employees who move to Florida but continue working remotely for NY-based employers should consult a tax professional. New York may assert tax jurisdiction over "convenience of the employer" workers performing NY-sourced duties.

4

Retiree

$60,000 income ($20K Social Security + $40K pension) · Single · Age 67 · NYC resident

🎯 NY's retirement income exclusions are generous

NY State excludes all Social Security income from taxation. Additionally, NY provides a pension/retirement income exclusion of up to $20,000/year for taxpayers age 59.5+. This means our retiree — with $20K SS + $40K pension — only pays NY state income tax on $12,000 (the $40K pension minus the $20K exclusion, minus the $8K NY standard deduction). This dramatically narrows the NYC vs Florida gap for retirees compared to working-age profiles.

Tax Component	NYC (NY State + City)	Florida	Notes
Federal Income Tax	$4,562	$4,562	85% of SS taxable federally; age 67 std ded $17K. Same everywhere.
NY State Income Tax	$480	$0	Only $12K taxable after SS exclusion + $20K pension exclusion + $8K std ded.
NYC City Income Tax	$369	$0	3.078% on same $12K city taxable income.
Sales Tax (est. $30K spend)	$2,663	$2,103	NYC 8.875% vs FL 7.01% avg. Both exempt most groceries.
Property Tax (est.)	$5,280	$2,947	NYC $600K condo @ 0.88%; FL $380K home @ 0.83% w/ homestead + STAR.
Total Annual Tax Burden	$13,354	$9,612	Save ~$3,742/yr in FL
Effective Rate (% of $60K)	22.3%	16.0%	6.3 percentage points

✦ Bottom Line — Retiree

Florida saves ~$3,742 per year on $60K NYC retirement income.

The savings are more modest than other profiles because New York's retirement income exclusions ($20K pension + full SS exclusion) reduce the triple-stack impact substantially. The larger NYC disadvantage for retirees is property tax — the high cost of NYC apartments creates significant absolute property tax. A retiree downsizing to a $380K Florida home saves over $2,300/year in property tax alone. The real FL advantage for retirees may be estate-related: NY has an estate tax (threshold ~$7.16M in 2026), Florida has none.

Summary: Annual Tax Savings by Moving NYC → FL

All four profiles, one table. Federal taxes excluded (same in both states).

Profile	NYC Total (All Taxes)	FL Total (All Taxes)	Annual Savings (FL)	NYC Eff. Rate	FL Eff. Rate
Freelancer, $100K net profit	$38,901	$27,096	$11,805	38.9%	27.1%
S-Corp Owner, $150K net profit	$59,556	$42,015	$17,541	39.7%	28.0%
W-2 Employee, $100K salary	$39,768	$26,873	$12,895	39.8%	26.9%
Retiree, $60K (SS + pension)	$13,354	$9,612	$3,742	22.3%	16.0%

⚠ Key costs these numbers don't include

Florida property insurance — Hurricane and flood coverage in Florida (particularly coastal counties, South Florida, and the Tampa Bay area) can add $4,000–$10,000+ per year in insurance premiums versus $1,200–$2,500 in New York City. For coastal FL properties, this significantly erodes the income tax savings — especially for the retiree and W-2 profiles. Additionally: New York City's "convenience of the employer" rule can tax remote workers even after they move to Florida if their employer is NYC-based and the work could be performed in NYC. Domicile changes from NYC require strict documentation — NY audits aggressively.

NY vs FL: Retirement Income Treatment

New York is more favorable for retirees than most people expect. Florida's advantage for retirees is real but smaller than for working-age profiles.

Income Type	New York (NYC Resident)	Florida
Social Security income	Fully exempt from NY state tax	No income tax (exempt by definition)
Pension income	Up to $20,000/yr excluded for 59.5+ filers	No income tax
IRA / 401(k) distributions	Taxable (no exclusion after $20K pension exclusion used)	No income tax
Capital gains (investments)	Taxed as ordinary income (NY state + NYC city)	No income tax
Estate tax threshold	~$7.16M in 2026 (NY state estate tax applies above this)	No state estate tax
NYC city tax on retirement income	Still applies to NY-taxable income (same exclusions)	None

The key takeaway: NY's pension exclusion and SS exclusion are genuinely valuable for retirees with primarily pension/SS income. But retirees with significant IRA distributions, investment income, or capital gains still face the full NY state + NYC city stack on those dollars. For a retiree with $100K in capital gains in a given year — say, from selling a business — NY state + NYC city income taxes alone would cost approximately $14,776 that Florida charges nothing.

The Bottom Line

The NYC triple-stack is the most aggressive income tax structure faced by any major U.S. city resident. Federal + NY state (up to 10.9%) + NYC city (up to 3.876%) means working NYC residents in the $100K–$200K income range face a combined effective rate on earned income approaching 40%. Florida charges federal only.

S-Corp $150K saves

$17,541/yr

$175,410 over 10 years

W-2 $100K saves

$12,895/yr

$128,950 over 10 years

Freelancer $100K saves

$11,805/yr

$118,050 over 10 years

Retiree $60K saves

$3,742/yr

$37,420 over 10 years

FL wins decisively on income tax (the dominant factor), narrowly on sales tax, and in absolute property tax dollars. NY's retirement exclusions reduce FL's advantage for pension/SS retirees. FL's property insurance costs partially offset the gains for homeowners. NYC's domicile audit risk is real: leaving properly requires documented intent and execution.

Sources: NY Tax Law §§ 601–699; NYC Admin. Code Title 11 Subtitle 3; NY Tax Law § 612(c)(3) (SS exclusion); § 612(w) (pension exclusion); Florida DOR; IRS Rev. Proc. 2025-61; TaxStackHub State Tax Stack (2026 rates). Federal calculations use 2026 OBBBA rates (23% QBI deduction, $184,500 SS wage base, $15,000 single standard deduction). NYC property: ~0.88% effective market value rate; FL: ~0.83% statewide avg with $50K homestead exemption.

Run your exact NYC vs Florida numbers

Enter your income, entity type, and state — see the full tax stack in seconds. Free, no signup.

Compare Your States →

Frequently Asked Questions

How much do you save on taxes moving from NYC to Florida?

Annual savings range from $3,742 (retiree on $60K pension/SS income) to $17,541 (S-Corp owner at $150K income). A freelancer earning $100K saves approximately $11,805/year. A W-2 employee at $100K saves $12,895. The primary driver is the elimination of both NY state income tax and NYC city income tax — together known as the "NYC triple-stack" (federal + state + city).

What is the NYC city income tax rate in 2026?

NYC charges a separate city-level income tax on top of NY state income tax. The 2026 rates for single filers: 3.078% on the first $12,000, 3.762% on $12,001–$25,000, 3.819% on $25,001–$50,000, and 3.876% on income above $50,000. A person earning $100K in NYC pays approximately $3,441 in city income tax alone — a cost that goes to zero the moment they establish Florida residency. Other NY state residents (outside of NYC) do not pay this city tax.

Why does NYC have three layers of income tax?

NYC residents are taxed by three separate governments: the federal government (IRS), New York State, and New York City itself. NYC is one of only a handful of U.S. cities with its own income tax on residents. The city tax was established to fund NYC's extensive local government, transit system, and services. Other NY state residents outside the five boroughs — in Westchester, Long Island, or upstate New York — do not pay the NYC city income tax, only NY state and federal. Moving to Florida removes both the state layer and the city layer simultaneously.

Does New York tax Social Security and pension income?

New York State does NOT tax Social Security income — it is fully excluded from NY taxable income. NY also provides a pension and retirement income exclusion of up to $20,000/year for taxpayers age 59.5 or older. This means a retiree living in NYC with $20K Social Security and $40K pension effectively only pays NY state + NYC city income tax on $12,000 of income (after the $20K pension exclusion and $8,000 NY standard deduction). Florida taxes none of it, but the NY exclusions mean the gap for retirees is smaller than most people expect.

What is the "convenience of the employer" rule and why does it matter for NYC movers?

New York's "convenience of the employer" doctrine holds that if a non-resident employee works remotely for a New York-based employer for the employee's own convenience (rather than because the employer requires remote work), New York may still tax those wages as NY-sourced income. This means a person who moves from NYC to Florida but continues working remotely for a NYC company may still owe NY state and NYC city income tax on their earnings — even after establishing Florida domicile. This is a complex area requiring professional guidance. Avoid this issue by either changing employers to a non-NY company or negotiating an employer-required remote work arrangement.

How do property taxes compare between NYC and Florida?

NYC's effective property tax rate averages about 0.88% of market value (though assessment methodology means condos often face lower effective rates). On a $750,000 NYC apartment, annual property tax is approximately $6,600. Florida's average effective rate is 0.83%, slightly lower, but Florida homes typically cost significantly less than NYC apartments. On a $400,000 Florida home with a $50,000 homestead exemption, annual property tax runs approximately $2,947–$3,154. Florida's absolute property tax advantage is roughly $3,000–$3,600/year on these assumptions.

Does New York have an estate tax?

Yes — unlike Florida, New York has a state estate tax. In 2026, the NY estate tax threshold is approximately $7.16 million (adjusted annually for inflation). Estates above this threshold face NY estate tax rates from 3.06% to 16%. A unique "cliff" provision in NY estate tax law means that estates between 100% and 105% of the threshold can lose the entire basic exclusion amount — resulting in taxes on the full estate value. Florida has no state estate tax, making it significantly more favorable for high-net-worth individuals. For most people under $7M in assets, this is not a factor.

What are the main downsides of moving from NYC to Florida for tax purposes?

Three significant considerations: (1) Property insurance — hurricane and flood coverage in Florida can cost $4,000–$10,000+ per year in coastal areas, partially offsetting income tax savings. (2) NY domicile exit audits — NYC residents who change domicile face aggressive review by both NY State and NYC. You must spend 183 or fewer days in NY, establish a clear primary domicile in Florida, and document the change thoroughly. Many NYC professionals fail this test because they maintain NYC apartments and still spend significant time there. (3) Career concentration — Finance, media, fashion, and many professional services are concentrated in NYC. The economic cost of leaving NYC's professional network may outweigh the tax savings for many high earners.

New York vs FloridaTaxes 2026