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Lots of people say they plan to move out of New Jersey due to high taxes and an elevated cost of living.

And certainly a large number do.

But guess who’s moving in? The “young and rich.”

That’s what a study of IRS data by financial website SmartAsset found.

More: Yes we’re Shore! It might be the beach elsewhere, but in New Jersey it’s a Shore thing

Looking at tax years 2021 and 2022, the study found that the Garden State saw a net increase of 300 “young and rich” households — which the study defined as households with filers aged 26 to 35 with an adjusted gross income of $200,000 or more.

That places it No. 8 in the country for states that gained the most “young and rich” households.

Here’s what the study found for New Jersey:

• Net migration of young and rich households: 300
• Outflow of young and rich households: 3,135
• Inflow of young and rich households: 3,435
• Total young and rich tax returns filed: 35,294
• Average AGI of young and rich households in the state: $388,643.

What makes that interesting is that many high earners are moving out of New Jersey.

“New Jersey and Washington each lost thousands of households earning $200,000 or more when considering taxpayers of all ages. However, these states ranked fifth and eighth, respectively, when it comes to attracting young people in this income range. Washington netted 383 additional young and rich households over one year, while New Jersey gained 300,” the study says.

More: How does New Jersey rank in personal spending? See which states are ahead of us.

Where else are “young and rich” households moving?

Topping the list was Florida, followed by Texas, Colorado, North Carolina, Washington, South Carolina, Tennessee, Arizona and Nevada. Half of the states in the top 10 don’t charge a state income tax. New Jersey is not one of them.

Which states are losing these households?

California lost the most, with a net loss of 3,226 households. That was followed by Illinois, Massachusetts, New York, Pennsylvania, Michigan, Louisiana, Delaware, Minnesota and Missouri.

The study also found that “young and rich” households earned the most in Nevada, with an average AGI of $731,000. Wyoming came in second at $612,000, with Florida third at $526,000.

If you thought the amount of rain New Jersey has received so far this weekend was piddling, the next 24 hours could change that.

Forecasters with the National Weather Service said Saturday night that the Garden State is soon expected to face several rounds of downpours and strong thunderstorms.

Hurricane Ernesto has already led to intense rip currents and dangerous conditions throughout the East Coast including the Jersey Shore — where lifeguards in several towns were busy on rescues earlier in the day.

The worst of the weekend’s inclement weather is expected to start early Sunday morning and intensify in the afternoon.

“Probably around like 4 to 6 a.m. we’ll start seeing more activity … our main timing of concern is going to be primarily during the afternoon. That’s when the heavier activity and thunderstorms are most likely to occur. I’d say around 1 to 2 p.m. or later,” Alex Staarmann, a meteorologist with the National Weather Service’s Mount Holly office, said Saturday on the phone at 9:18 p.m.

Thunderstorms and damaging winds threaten the entire state but the most significant impacts may be seen south of Trenton based on current weather projections, Staarmann said.

“So, we could see some trees down, power lines down, and possibly some power outages with that activity,” he added.

The National Weather Service on Saturday also said a day-long flood watch would begin from 2 a.m. on Sunday through Monday. The parts of northeast New Jersey that watch includes: Bergen, Essex, Passaic, Union, Hudson, Bergen, Essex, Passaic and Union counties, according to an AccuWeather alert.

Ernesto made landfall early Saturday morning in Bermuda as a category 1 storm with top sustained winds of 85 mph.

On Saturday shortly after 9 p.m., Ernesto was “barely a hurricane” according to a national meteorologist.

The storm, which had dropped to sustaining winds at 75 mph, was located just northeast of Bermuda by about 100 miles at that time. It was expected to move towards the north and may barely clip Newfoundland early next week, experts said.

In its latest forecast, the National Weather Service noted that rip currents continue to be a threat along the shore.

Punishing conditions on the coast have already prompted first responders to post red flags at Jersey Shore beach entrances. New York City officials announced beaches in Brooklyn and Queens would be closed to swimming and wading on Saturday and Sunday due to dangerous rip currents.

Staarmann, a meteorologist with the National Weather Service, said that besides all of northern New Jersey being under a flood watch, Monmouth County was as well.

“What we’re expecting generally is a widespread half-of-an inch to one-inch of rain. But there could be localized heavier amounts of around 2 to 4 inches or more, which could lead to areas of flash flooding wherever those heavier rainfall amounts do occur,” he said.

As it stands, flooding could pose a danger farther south of the state depending on how the forecast evolves later Saturday night.

AccuWeather senior meteorologist Dan Pydynowski said: “There can still be flash flooding of small streams and urban areas where it manages to pour for a couple of hours but that sort of condition would tend to be highly localized.”

A 25-year-old Camden County man was killed Friday night on Interstate 76 after he was ejected from his motorcycle and hit by another vehicle, a spokesperson with the New Jersey State Police said Saturday.

State Police responded to milepost 1.1 in Gloucester City in Camden County at 9:40 p.m. after receiving a report of a crash, officials said.

A preliminary investigation found Ryan Gaskill, of Pennsauken, was traveling southbound on I-76 when an unidentified SUV changed lanes in front of him, forcing Gaskill to apply the brakes, officials said.

The motorcycle overturned and Gaskill was ejected before being struck by another SUV traveling south, resulting in fatal injuries, according to authorities. The SUV that struck Gaskill remained at the scene, and the crash is remains under investigation.

No additional details were released by authorities Saturday morning.

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Matthew Enuco may be reached at Menuco@njadvancemedia.com. Follow Matt on X