Massachusetts risks losing $1B as wealthy flee for lower-tax states

Massachusetts is in danger of losing nearly $1 billion in annual revenue over the coming years as high state taxes trigger an exodus of wealthy residents.

Since 2013, migration out of Massachusetts has seen an "alarming" 1,100% increase to more than 39,000 people, according to new findings published by Boston University's Questrom School of Business. If the trend continues, more than 96,000 residents making a cumulative $19.2 billion in adjusted gross income will leave the state by 2030.