The Occasional Observer

Federal tax rates are the same in Florida and New York.

But there’s no state income tax in the Sunshine State. Compare that to New York, where the state and local governments took $14.71 of every $100 earned in 2010, according to state records.

The only state with a higher rate is Alaska...

The demand is so high that officials in Palm Beach County have set up an entire office to answer questions from city hedge-funders looking to relocate.

“We’re not doing a multimillion-dollar marketing campaign. We don’t need to,” said Kelly Smallridge, who heads the Palm Beach County Business Development Board, which set up the special unit to handle inquiries and marketing.

“They’re coming to us.”