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Another example of tax arbitrage. I have a friend in Portland, Oregon who owns a multimillion dollar business and lives 20 miles away from Vancouver, Washington
by valuearb 9y ago
Another example of tax arbitrage. I have a friend in Portland, Oregon who owns a multimillion dollar business and lives 20 miles away from Vancouver, Washington. Oregon's top income tax bracket is 11%, Washington has no income tax. When it comes time to sell his business, by moving to Vancouver for a year he can increase his net worth by a half million or more and his income for the rest of his live by over 12% a year.
- Simon_says 9y agoWhere is the business located?
- gt2 9y ago1. Why wouldn't he go ahead and move there now to save on his presumedly decently sized income along the way? 2. Anyone know if that kind of 'tax arbitrage' often challenged from states that see people move away just before a major event?
- valuearb 9y agoPortland is much nicer place to life than Vancouver. And the business is located in Portland, so profits are still subject to OR taxes.