Billionaire Ken Fisher is relocating his corporate headquarters to Dallas Fort Worth, due to a state supreme court ruling in Washington on taxes.
Another large company has moved its corporate headquarters to Dallas Fort Worth, Texas.
Fisher Investments, founded in 1979 by Ken Fisher, announced the move thanks to "a state supreme court ruling in Washington that upheld the constitutionality of a tax on its wealthiest residents."
Washington state’s high court on Friday to "uphold a capital gains tax that applies a 7% tax on the sale of financial assets such as stocks and bonds." The tax only applies to profits over $250,000, not including real estate or retirement accounts.
This would affect only the top 0.1% wealthiest people- the target client for Fisher Investments.
The company issued a brief statement.
"In honor of the Washington State Supreme Court's wisdom and knowledge of the law, and in recognition of whatever it may do next, Fisher Investments is immediately moving its headquarters from Washington State to Texas."
Texas, of course, has no income tax. Ken Fisher, a billionaire listed among the richest 400 people in the nation, has Dallas as his residence.
About Fisher Investments
Fisher Investments is an independent, fee-only investment adviser. As of March 31, Fisher Investments and its subsidiaries manage over $197 billion in assets globally—over $156 billion for private investors, $39 billion for institutional investors, and $2 billion for US small to mid-sized business retirement plans.
Fisher Investments employs over 4200 people in the United States, including 1400 in Dallas Fort Worth.
Are you glad to see another business move its headquarters to Dallas Fort Worth? Do you agree with the court decision? Should wealthy people be forced to pay capital gains tax? Should Texas implement an income tax?
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