New York’s loss is Florida’s gain.

The Sunshine State gained $20.6 billion in annual adjusted gross income from filers who moved there between 2022 and 2023, but states with the highest taxes like New York and California continued to bleed billions of dollars — even after the pandemic, according to newly released Internal Revenue Service data.

California saw an $11.9 billion loss in net income from 2022 to 2023 – the most of any state. Many of its residents moved to the cheaper confines of Texas, Nevada and Arizona, a Wall Street Journal analysis of the IRS’s data on state income migration found.

Other big losers – all Democratic-led states with the highest taxes – included New York ($9.9 billion), Illinois ($6 billion), Massachusetts ($4 billion), New Jersey ($2.6 billion), Maryland ($1.8 billion) and Minnesota ($1.5 billion).

“People are moving in pursuit of affordability,” said Realtor.com senior economist Joel Berner.

“The states that saw the largest gains in wealth of movers are the ones that are doing the most to increase the supply of homes and thereby lower prices.”

States losing the most revenue through migration also share something else in common: they slam millionaires, billionaires and other high earners with hefty taxes while spending excessively. The vicious cycle typically leads to lefty pols calling for taxes to be raised even further, which drives away businesses and jobs.

In New York City, residents earning over $215,400 pay 10.7% while the top state-and-local tax rate runs 14.8%.

Socialist NYC Mayor Zohran Mamdani is trying to convince Gov. Kathy Hochul and other Albany pols to slap an additional 2% income tax surcharge on millionaires.

New York Republican gubernatorial candidate Bruce Blakeman blamed Hochul for why the Empire State leads the nation in population loss since 2020.

“[She’s] chasing jobs out of New York with high taxes, soaring utility bills, rising insurance rates, and the looming threat of an inheritance tax,” the Nassau County executive told The Post.

“Clearly, she didn’t earn the title of ‘Worst Governor in America’ by accident.”

California millionaires pay a top rate of 13.3%, but the state’s 9.3% tax bracket starts at $72,724.

Minnesota’s top tax rate of 9.85% hits at $203,151 – making it the highest in the Midwest. It also imposes another 1% tax on investment income over $1 million.

Meanwhile, states without an income tax – with the exception of Alaska – saw huge gains from interstate migration, the Wall Street Journal reported.

Florida’s windfall was followed by Texas ($5.5 billion), South Carolina ($4.1 billion) and North Carolina ($3.9 billion), the data show.

Other big adjusted-gross-income gainers included Tennessee ($2.8 billion), Arizona ($2.8 billion) and Nevada ($1.5 billion).

New Hampshire gained nearly $900 million directly from Massachusetts, which in 2022 approved a 4% tax surcharge on millionaires that raised its top rate to 9%.

Doug Kellogg, state projects director for conservative Americans for Tax Reform, said high-tax blue states are “simply a rip-off,” so it’s no wonder that so many residents living there want to flee.

“The problem with blue-state Democrat governance is hitting the taxpayer piñata is the only plan they have, and the piñatas have moved out,” he said.

“New York and California charge the highest tax burdens in the country to deliver the same, or worse levels of services.”

“Red states are so far ahead on the scoreboard the competition is over,” continued Kellogg.

He added: “The Southeastern states surpassed the Northeast in [Gross Domestic Product] a few years ago. The top five states Americans move to are all Republican-controlled, and their average income tax rate is nearly four times lower than the five biggest loser states, which are all Democrat-controlled.”