• In all, 716,948 Californians moved elsewhere in the United States in between filing as local taxpayers in 2020 and elsewhere in 2021. In the same year, 385,188 Americans from other states moved in, so IRS data shows the net loss to California was 331,760.
• And those people took a lot of money with them. The taxpayers took $29 billion in taxable income, $183,737 on average. That’s higher than the state’s median household income of $84,097, according to the U.S. Census.
• The data shows Texas is the top destination for Californians moving out, but that doesn’t mean that Texans aren’t open to moving to the Golden State. The IRS says 36,092 Texans did just that in 2020.

Tagged: Economy