Money's leaving California in a hurry

Over the last few years, we've heard stories of people leaving California and moving to Texas.  At the same time, we've all seen lots of California license plates around town. I saw some rather staggering numbers about all of this: The number of Californians leaving the state and moving to Texas is at its highest level in nearly a decade, according to datafrom the Internal Revenue Service. According to IRS migration data, which uses individual income tax returns to record year-to-year address changes, over 250,000 California residents moved out of the state between 2013 and 2014, the latest period for which data was available. The tax returns reported more than $21 billion in adjusted gross income to the IRS. Of the returns, 33,626 reported address changes from California to Texas, which has been the top destination for individuals leaving California since 2007. Californians who moved to Texas between 2013 and 2014 reported $2.19 billion in adjusted...(Read Full Post)