Jeff Bezos reportedly saved nearly $1 billion in taxes by relocating from Washington to Florida. The move allows him to avoid Washington's capital gains tax, which he would have owed $954 million on his recent stock sales.
Jeff Bezos , Amazon ’s founder and executive chairman, has allegedly saved nearly $1 billion this year alone in taxes after calling Florida his primary residence instead of Washington. Bezos announced late last year he was moving from Washington to Indian Creek Village — an exclusive area in Miami, Fla. also known as “Billionaire Bunker,” famous for its celebrity residents including Tom Brady, Ivanka Trump and her husband, Jared Kushner.
Bezos’ waterfront mansion is 19,000 square feet and cost him approximately $79 million.He cited that he wanted to be closer to his parents, who are located in Miami, and to be closer to Blue Origin, his aerospace company located in Cape Canaveral. But, just three months after his cross-country move, Bezos unloaded 12 million shares of Amazon.com Inc. stock last week, netting him just over $2 billion, according towith the U.S. Securities and Exchange Commission. The sale of this volume of stock won’t be completed until Jan. 31. Bezos owned 988 million shares, nearly 10% of Amazon, before he began selling them last year. As of this reporting, Bezos has sold an estimated $13.6 billion worth of Amazon stock after he announced he was leaving Washington for Florida, according to If he sold that much stock while as a resident of Washington, which houses a 7% levy on long-term capital gains of more than $250,000, he would have owed $954 million in state taxes, according toAn initiative to kill the capital gains tax was presented in the most recent general election for Washington voters, but residents chose to keep it in place, as 63.2% of voters were in favor of keeping it in plac
JEFF BEZOS AMAZON FLORIDA TAXES CAPITAL GAINS
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