RVNC: the state income tax savings for individuals from migrating out of CA are also worth noting. A corporate executive who shifts his or her residence from California to Tennessee will owe zero tax to TN on his or her capital gains from a sale of RVNC stock. CA imposes its income tax rate on individuals at an up-to-13.3% rate. TN, in contrast, already generally exempts an individual's capital gains from its state income tax. Beginning in 2021 TN completely phases out the state income tax on individuals so all individual investment and employment-related income should also be exempt from TN tax.
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