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Jeff Bezos's Move From WA To FL Has Saved Him Close To $1B in Taxes This Year

Published by Slashdot on Sun, 07 Jul 2024


As Amazon's stock hits a record high (rising 32% just this year), long-time Slashdot reader theodp writes:GeekWire reports that Jeff Bezos keeps selling Amazon stock after announcing his move away from Washington stateand its 7% tax on capital gains of more than $262,000 from the sale of stocks and bondsto Florida, which does not have a capital gains tax (like WA, FL also does not tax personal income). Taylor Soper writes, "Bezos saved more than $600 million by moving to Miami and avoiding Washington's capital gains tax, CNBC reported in February, based on his sale of 50 million shares [$8.5 billion] earlier this year. With the sale of 25 million additional shares [$5 billion], revealed this week in a regulatory filing, Bezos will likely have saved close to $1 billion in total so far. It's a giant chunk of change that would have otherwise gone to the state of Washington."Read more of this story at Slashdot.
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