Deep in the New York Post article announcing Rupert Murdoch's plans to marry for a fifth time came the line: "They will spend their time between California, the UK, Montana and New York."
Murdoch's ties to the places he owns media properties are well known, but Montana? The Wall Street Journal has a March 17, 2023 editorial: "The top income-tax rate will fall to 5.9% in 2024 from 6.75% now. Gov. Greg Gianforte called it 'the largest tax cut in Montana history,' and it builds on his 2021 cut that dropped the rate from 6.9%."" The Journal also reported, in December 2021, that Murdoch had paid about $200 million for a 340,000-acre Montana ranch.
As state income tax rates go, 5.9 percent is higher than zero, but lower than the top state tax rates in New York (10.9 percent with an additional 3.876 percent for New York City residents, for a total of 14.776) or California (13.3 percent). There is no estate tax at the state level in Montana, while New York does have that tax.
Montana may have plenty of non-tax-related attractions, and people do things for non-tax-related reasons. Even so, it's worth remembering, as Walter Wriston used to say, capital goes where it is welcome and stays where it is well treated.
Incidentally, this is a FutureOfCapitalism classic. Every other news outlet covering this engagement is going to show you a photo of Murdoch's new squeeze and report on how they met and how much younger she is. FutureOfCapitalism tells you the tax rates in the places they will be living. Where else are you going to find this sort of content?