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Texas Ranks No. 3 in Netting the Most Income from Interstate Movement of People

Posted on 8/21/2013 by with 0 comments

Welcome_to_Texas_sign_Texarkana_TX_2013-06-08_001Texas was a big winner in the interstate movement of people and their taxable income in the last decade, according to new data from the Tax Foundation.

When people move to a new state, they bring along their income — and perhaps the income of a spouse or partner.

Texas ranked No. 3, after Florida and Arizona, in netting the most income from people’s moves in and out of the state from 2000 to 2010, according to the Tax Foundation’s analysis of federal income tax returns. Newcomers brought a net $17.6 billion of adjusted gross income to Texas.

“This shows pretty much what we know” — that Texas has had net in-migration for many years, said Pia Orrenius, senior economist for the Federal Reserve Bank of Dallas.

Nick Kasprak, analyst for the Tax Foundation, said, “The general trend has been people moving from the Northeast to the Southeast and Southwest.”

Florida gained the most from the decade’s migration, netting $67.3 billion. Arizona was No. 2 with $17.7 billion.

New York saw the biggest decline in net personal income ($45.6 billion) as more people moved out than in. Next were California ($29.4 billion) and Illinois ($20.4 billion).

 

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