This month’s featured article from TEF.

Tennessee – On the Road to Income Tax Freedom

By Amy K. Frantz

In the March Tax Education Foundation Brief, How Iowa Compares, I wrote that “Iowa is one of 43 states that require citizens to pay an income tax. Two of those states, New Hampshire and Tennessee, tax only interest and dividend income, not wage and salary income.”[1]  Now, however, Tennessee is on the road to joining the seven states that have no income tax, by adopting legislation to phase out that state’s tax on interest and dividend income.

 

[1] Amy K. Frantz, “How Iowa Compares,” Tax Education Foundation Brief, March 2016, <http://www.taxeducationfoundation.org/tax-education-briefs-archive/march-2016/> accessed June 27, 2016.

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