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Tennessee Begins 2021 with No Income Tax

Dec 21, 2020 by AFP

NASHVILLE, TN – With the repeal of the Hall Tax going into effect on January 1, Americans for Prosperity-Tennessee (AFP-TN) today commended the state legislature for eliminating the last vestige of an income tax in the Volunteer state, and urged lawmakers to continue advancing pro-growth economic reforms.

The Hall Income Tax instituted a six percent tax on interest and dividend income for individuals living in Tennessee.

AFP-TN State Director Tori Venable issued the following statement:

“Eliminating the Hall Tax is a great way to start off the New Year for Tennesseans. Our state is now officially income-tax free, helping attract more businesses, jobs, and retirees. For too long, the Hall Tax punished seniors’ investment and retirement funds. Especially now, people need more money in their pockets. We commend the legislature for voting to remove the Hall Tax in this year’s legislative session and urge them to continue advancing pro-growth reforms like eliminating corporate welfare and enacting a Truth in Taxation that ensures Tennesseans have a say in how their tax dollars are spent.”