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Read previewNew York is the millionaire capital of the world, but some of those who want to stay rich are fleeing to low-tax states like Florida and Texas.
The state tax department has a solution: AI letters.
It is sending hundreds of thousands of AI-generated letters, mostly to wealthy remote workers or those who require a change in tax residency, according to CNBC.
There were 771,000 audits in New York in 2022, according to a recent report by the state Department of Taxation and Finance cited by CNBC.
Persons:
—, That's, Alexander Spatari, Mark Klein, Hodgson Russ LLP, it's, It's, Klein, Shakira
Organizations:
Service, CNBC, Business, of Taxation, New, Henley, Partners, €, York's Department of Taxation, Finance
Locations:
Florida, Texas, New York, New York City, York, Bahamas, Spain