State Exodus Causes $29.1 Billion Loss in Taxable Personal Income
May 10, 2023 | California
Recently released data from the Internal Revenue Service (IRS) reveals the extent of migration out of California, with a significant number of people moving out between 2020–2021 and taking their billions of dollars in income with them.
Approximately 332,000 more taxpayers left the state than entered in the year following the onset of the pandemic, according to IRS data analyzing differences in zip codes on tax filings as compared to the prior year.
According to the data, the state lost $29.1 billion in taxable personal income in 2021 following a loss of $18 billion in 2020.
