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The Hall income tax was a Tennessee state tax on interest and dividend income from investments. [1] It was the only tax on personal income in Tennessee, which did not levy a general state income tax. The tax rate prior to 2016 was 6 percent, applied to all taxable interest and dividend income over $1250 per person ($2500 for married couples ...
As of Jan. 1, 2021, Tennessee has completely repealed the state’s income tax — including the Hall tax, which charged a 1% tax on interest and dividend income. No taxes are collected on ...
Tennessee – has no individual income tax. In 2014 voters approved an amendment to the state constitution prohibiting state or local governments from levying any income tax. [18] Prior to January 1, 2021 Tennessee had the "Hall income tax", a tax on certain interest and dividend income from investments.
Tennessee has a reputation as low-tax state and is usually ranked as one of the five states with the lowest tax burden on residents. [7] It is one of nine states that do not have a general income tax; the sales tax is the primary means of funding the government. [8] The Hall income tax was a tax imposed on most dividends and interest.
The IRS announced new tax brackets for use in 2026, and over half of Tennesseans fit into just two of them. ... About 31% of Tennessee households (more than 2.2 million) earn between $10,000 and ...
The state is refusing to name the 80 companies that have sought franchise tax refunds from the state, a move that Finance Commissioner Jim Bryson says prompted Lee to include $1.2 billion in ...
State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly. This table includes the per capita tax collected at the state level.
Last year, the state offered a three-month grocery tax holiday for Tennessee shoppers. Here's why it won't be coming back this year. Last year, the state offered a three-month grocery tax holiday ...