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Suze Orman May Leave Florida Over Gay Marriage and Taxes

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Financial guru Suze Orman may be packing up her partner and her jacket collection and moving to a state that recognizes gay marriage if the Supreme Court overturns DOMA.

Orman currently lives in Fort Lauderdale with partner Kathy Travis, but the tax breaks that could come with federally recognized marriage could entice her to move elsewhere. Florida leaders should be concerned that Orman may not be the only wealthy gay person to do so.

"Currently I am a resident of Florida ... and I have substantial wealth and I pay substantial taxes," Orman Told MSNBC's Alex Wagner according to the Huffington Post.

"I would be more than happy to move to New York or California if I could get married and be recognized on a federal level. Because I want to live in a state that validates me, and I would validate them with my money."

Currently the federal government recognizes no gay marriages, so gay couples who marry in states that allow it miss out of the federal tax breaks that are afforded to straight married couples. An overturn of DOMA would likely lead to extending those tax breaks to gay married couples.

Because Florida has no income tax, the practical question of tax breaks on the state level have been a moot point for many gay couples in Florida. Though that might be changing if federal tax breaks come into the question. It's also worth pointing out that two other states that don't have individual state income taxes allow gay marriage: Washington and New Hampshire.

If it makes enough financial sense, don't be surprised if other wealthy gay couples start to think about picking up and moving as well. Florida's dismal record on gay rights otherwise certainly doesn't help.

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6 comments
Suareza
Suareza

Send us a postcard wherever you end up, we won't miss you...

Jimbo99
Jimbo99

I'd be willing to bet that FL isn't the only place she has property that might fall under the tax breaks she seeks with same gender marriage ? Then it's just a matter of fudging where she and her partner lived for 6+ months out of the year. She's here because she isn't double dipped for a Fed & State income tax ? Even more modestly retired folks realize they pay a premium to live elsewhere. When they realize how warm and tax friendly this state is, they wind up coming back for that tax break. 

AdamNSteve
AdamNSteve

Bye Suze, take Lil Wayne with ya on the way out....

AdamNSteve
AdamNSteve

  Bye Suze, take Lil Wayne with ya on the way out....

Anthonyvop1
Anthonyvop1 topcommenter

You guys at the New Times don't know much about Taxes and Finance do you?   The tax break from marriage is miniscule compared to the amount in taxes people pay in more "progressive"(I always find the hypocrisy of that name hilarious) states.

   That being said. I want the Government out of the marriage business completely.  Gay, Straight, Inter-species.........Just stop it.

voltrade
voltrade

right. just like everyone is escaping new york because of the high taxes.

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