investment income

Households that make over $200,000 annually comprise just a sliver of all tax returns that are filed in a given year, but their movement between states can have a significant financial impact. When a state loses more high-earning tax filers than it gains in a given year, tax revenues may decline and the state’s fiscal situation may worsen. That’s why despite making up less than 7% of total tax returns filed across the 50 states and the District of Columbia in 2020, the migration patterns of high-earning households continue to make headlines.