Part-time Palm Beach resident Howard Stern is still trying to move his radio show from New York to Florida.
Stern told listeners yesterday that he and his staff had already done practice runs of his show from Florida.
One major impediment: getting star guests on the show. TV and movie stars regularly visit New York City to make the rounds on talk shows, but don’t necessarily come to Florida (although a growing number now visit Miami’s Univision and Telemundo studios).
Stern said he hopes to convince the major TV studios to move from New York to Florida, which would solve the problem.
By relocating to Florida, Stern might save $30 million in income tax, assuming about $240 million in salary over the next three years.
Stern has three years left on a contract estimated to be more than $80 million per year (part of that goes to production and staff).
New York State has a top marginal tax rate of 8.82%, while New York City’s rate is 3.88%. Based on Stern’s contract, New York charges him about $10 million in taxes every year.