Alex and Susie,
I thought you two told no oe would have a problem paying the new NYS tax structure??
Thomas Golisano has had it with New York state’s tax burden and is making Florida his permanent residence.
Golisano, the billionaire owner of the Buffalo Sabres, made the disclosure Thursday in his native Rochester at the city’s 2009 Financial Executive of the Year Awards.
The founder of Paychex Inc. has made a dedicated effort in the past few years to change the political landscape within the state, spending millions in support of numerous candidates for office.
At the end of his speech detailing systemic problems with the state’s property tax system and dovetailing into education, income taxes, health care and the role of unions in politics, Golisano announced his intention change his domicile to Florida.
“I’m not happy about it by any means. But we have a state that continues to be run like this and you compare the state of Florida and seven or eight other states — Florida has no income tax at all, 6 percent sales tax versus 8 percent sales tax and 1 percent of property tax to market value compared to an average of 3.5 percent in upstate New York,” he said.
“I don’t expect anyone to feel sorry for me, but a number of friends close to me said I should say this. My tax savings just on income tax will be $13,800 per day. Per day. Now if it has this kind of effect on me imagine the effect on a lot of New Yorkers and what’s going to happen to our state as long as we keep allowing this to happen year after year after year. We let it happen by doing generally one thing — electing the same legislators and getting the same power to Shelly Silver and now Malcolm Smith to absolutely control the New York State Legislature.”
The 67-year old Golisano already spends several months at a home in Naples, Fla. By claiming that as his full-time residence, his estimated yearly savings would be over $5 million per year.
In addition to owning the Sabres and his involvement in politics, Golisano is also recognized for charitable giving, including $10 million to Niagara University last year to assist in construction of a new science complex.
