00:00 It's Benzinga and here's what's on the block.
00:02 Amazon founder Jeff Bezos recently moved from Seattle, Washington to Miami, Florida,
00:06 which is saving him significant taxes. Neither Washington nor Florida have state income taxes,
00:12 but Bezos will avoid Washington's 7% capital gains tax on stock sales over $250,000.
00:18 Bezos plans to sell $2 billion worth of Amazon shares in 2024, which would have cost over $610
00:25 million in taxes if he remained a Washington resident. Since 1998, Bezos annually sells
00:31 billions in Amazon shares but left Washington before a new state capital gain tax took effect.
00:36 For all things money, visit Benzinga.com.
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