If you want to get the wealthiest billionaires to live in your state, get rid of the state income tax
Apparently, Tennessee and New Hampshire are not really zero income tax states as they impose significant taxes on interest and dividend income (6% and 5%, respectively). There is a list of the wealthiest person in each state available here.
I ran two regressions: one with the wealthiest person in the state on a dummy variable for them not having an income tax and then the same thing for just the continental US.
Labels: income tax