The “184-Daysers”

In Miami, the influx of new residents and the rise of "184-days-ers" is evident. To establish residency in Florida—or any state—as your primary domicile, you must physically reside there for at least 184 days a year. A major driver for this relocation is Florida's lack of state income tax, offering significant tax savings for those moving from high-tax states like New York or California.

For instance, a New York City resident earning $1 million pays around $422,000 in taxes (city, state, and federal combined). In Florida, that same income incurs a tax bill of $321,000—resulting in $100,000 in savings. This substantial difference is a compelling reason for many to make the move.

Walking through Miami's streets, you'll notice luxury cars with out-of-state plates, especially from high-tax regions in the Northeast. This trend isn't just anecdotal; it's a lifestyle shift, particularly for the affluent who can manage the logistics of living between states. Whether it's a quick 40-minute drive from Boston to tax-free Salem, New Hampshire, or a 4-5 hour flight from New York City to West Palm Beach, the financial motivation is clear.

Consider this: approximately 1,000 people have been moving to Florida daily, highlighting the state's growing appeal.