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Why Sylvester Stallone Dumped California for Florida

Why Sylvester Stallone Dumped California for Florida

Sylvester Stallone and his wife, Jennifer Flavin, are now residing at their Palm Beach home in Florida, leaving the bright lights of Hollywood behind. Their move put the longtime California residents in the same boat as others; people from all over the United States are flocking to the Sunshine State.

Well, what are the reasons Sylvester Stallone and his wife decided it was time to go? One of them is the fact that they are now empty-nesters. Their three daughters, Sophia, Sistine, and Scarlett, are either in college or out on their own. There was no need to live in such a big house for Sylvester and Jennifer. It would be extremely empty without their kids bumping around in there.

Another item that may have helped pick Florida is the state’s lower tax situation. The Stallones paid a lot of money over the years to the state of California. Now, they’ll get to keep a little more in their bank accounts.

Sylvester Stallone Announced Florida Move on His Reality TV Show

Sylvester Stallone made his announcement as the second season of The Family Stallone hit the airwaves. While the new episode aired last week, Sly announced this at the dinner table in 2023 with Flavin there along with his kids and his brother, Frank Stallone.

“After a long, hard consideration, your mother and I have decided, time to move on and leave the state of California permanently, and we’re going to go to Florida,” Stallone said. “We’re going to sell this house.”

Jennifer Flavin also said that she wanted to discover more of who she was as an individual. “When you spend your life, and I raised all three of our daughters in California, everything’s a memory to me,” Flavin said on The Family Stallone. “Memories of them not being there anymore. So I needed a big change, and Sly went along with it.”

The Stallones showed off their $35.375 million mansion in their show’s first season. It is a lakefront property, too. Sly joins a list of luminaries who have shifted their homes to Florida, including Amazon owner Jeff Bezos and restauranteur Guy Fieri.

Many Making Tracks to the Sunshine State

According to a Business Insider report last October, more new residents arrived in Florida between 2021 and 2022. That data comes from the U.S. Census Bureau. Which state at the time had the most people leaving? California.

From a financial standpoint, Florida does not have an income tax. It does not charge taxes on capital gains, either. High-earning individuals like living there because, as we stated earlier, they can keep more of their money. In addition, the corporation tax is lower in Florida. That makes company owners more willing to live there.

Sylvester Stallone admitted that leaving California for good was tough to do. He mentioned on his TV show how much he’d gotten his breaks there as an actor. But he also recognized things that Flavin had given up for his career.

“Jennifer has made an incredible amount of sacrifices over the years,” Stallone said. “I know deep down inside, no matter how I’m feeling, I owe it to Jen to go through this move.”