Executive Chairman of Amazon, Jeff Bezos will save over $600 million in taxes when he sells 50 million shares of stock over this year, if Amazon stock remains the same. After selling 12 million shares of Amazon stock, at $2 billion, he already saved $140 million.
Bezos recently made the move from Seattle, WA where he resided for almost 30 years to Miami, FL. Florida doesn’t have state income tax or capital gains taxes. Washington state imposed a 7% capital gains tax of sales of stocks or bonds of more than $250,000 in 2022. That was when Bezos stopped selling his stock.
Bezos said his move was to be closer to his parents and for his Blue Origin space company.
By - FZ
Comments