The $197 billion RIA is heading to Texas after Washington state refused to dial back a 7% tax on capital gains.

An excerpt:

Barse said the historically high inflation has become a “regressive tax” that makes states with lower tax rates even more attractive.

“For many, the tax savings offered by a zero-state income tax state like Texas not only helps offset higher goods and labor costs, it can also be beneficial for employees given that there’s no state income tax,” he said.

See Fisher Investments becomes the latest example of high taxes driving people and businesses away in Investment News.