FAQs: Tax Incentives and Going to Puerto Rico

FAQs: Tax Incentives and Going to Puerto Rico

Puerto Rico has been doing the headlines a lot recently. Especially, its status as being a brand new income tax haven for Americans has landed it on editorial pages from Forbes to GQ.

Only at Nomad Capitalist, we think everywhere has the right to “go where you’re treated best”, therefore we work each and every day assisting six- and seven-figure entrepreneurs lawfully reduce their fees with overseas income tax methods.

For some – although not all – American companies and their owners, Puerto Rico could be the ultimate taxation haven. Most likely, company leaders such as for example give Cardone have traditionally fled states that are high-tax Ca for zero-tax states like Nevada, Florida, and Tennessee.

But, eliminating state taxes is just a tiny an element of the issue; residents of Florida and Nevada still spend US federal taxation, while Puerto Rico residents frequently don’t.

As we’re fond of saying here, you can move from Florida to Puerto Rico if you can move from California to Florida. Continue reading