Stephen A. Smith says taxes drove move from California and New York to Florida
The ESPN commentator said federal, state and other charges could leave high earners with less than 34% of their income, though the calculation was not independently established.
Stephen A. Smith said high taxes were a major reason he moved his primary residence from California and New York to Florida, renewing his criticism of the financial burden facing top earners.
Speaking on The Culture Table, Smith said federal income tax, California state tax and other charges could leave someone in his income range with less than 34% of their earnings. The precise basis for that calculation was not established in the supplied material.
California’s top marginal state income-tax rate is 13.3%, while the top federal rate is 37%. Medicare and other payroll taxes can push the marginal burden higher. New York has a lower top state rate than California but also imposes New York City income tax on residents.
Florida has no state personal income tax. Smith had previously said in 2024 that he was seeking a primary residence in the state because he felt heavily taxed in New York and Los Angeles. Property records reportedly show he later bought a US$9.25 million estate in Pinecrest, although the purchase does not establish the exact date or legal status of any change in residence.
Smith’s ESPN extension was reported as worth at least US$100 million over five years from 2025, excluding other income. Marginal tax rates apply to the last dollar earned, rather than necessarily to all income, and actual liabilities depend on income type, deductions, filing status and residence, according to context cited by Yahoo Finance.
