Bloomberg News quoted Tax Leader Joseph Perry in an article about a Moody’s report that the new ceiling on the federal deduction of state and local taxes is not causing a migration of high net worth taxpayers to low tax states.
By Laura Davison and Henry Goldman
“We have not seen many people who have actually acted on leaving,” said Joseph Perry, tax and business services leader at accounting firm Marcum, said about Cuomo’s statements. “Clients want to stay. They love the city and the tipping point hasn’t happened yet.”