Daily Stock Market Updates

• President Donald Trump, a lifelong New Yorker, has declared himself a resident of Palm Beach County, Florida. 
• According to documents obtained by The New York Times, Trump and wife Melania filled out a “declaration of domicile” in recent weeks, declaring the president’s Mar-a-Lago golf club their permanent home. 
• A person close to the president told The Times that the reason the president changed his address was “primarily for tax purposes.” 
• Trump confirmed the news on Thursday, and said in a tweet that despite the fact that he pays “millions of dollars in city, state and local taxes each year,” in New York, he has been “treated very badly by the political leaders of both the city and state.” 
• Under New York State law, if a person spends more than 184 days in the state, the person needs to pay state income taxes. Florida, on the other hand, does not have a state income tax, making it an attractive residential prospect for the wealthy.
• New Yorkers paid the highest state and local income taxes of any state as of May 2019.

President Donald Trump, who grew up in Queens, New York, made millions from large-scale building projects in Manhattan, and shot the “The Apprentice” at his namesake Fifth Avenue skyscraper Trump Tower, has now declared himself a resident of Palm Beach County, Florida.