Jeff Bezos will save over $600 million in taxes by moving to Miami
Publishing timestamp: 2024-02-12 12:37:48
Summary
Jeff Bezos plans to sell 50 million shares of Amazon before Jan. 31, 2025, and by doing so in Florida instead of Washington state, he will save at least $610 million in taxes. This move comes after Washington state imposed a new capital gains tax. Bezos has already sold $2 billion worth of Amazon stock, saving $140 million in taxes. He has also purchased mansions in Miami and is expected to tear them down to build a new estate.
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Keywords: business, amazon.com inc, business news, florida, seattle, miami, jeff bezos, government taxation and revenue, breaking news: technology, technology, wealth,