Sen. Jim Tracy (R-16) filed SB0267 which would create a sales and use tax exemption for purchase of building supplies for construction of storm or tornado shelters purchased between July 1, 2011, and December 31, 2011. The exemption is similar to that already made for flood recovery. Click Here for PollOnline SurveyConjoint Analysis | Polls [...]
Doubling Inheritance Tax Exemption to $2M
Sen. Jim Tracy (R-16) filed SB0262 which would increase the amount of the inheritance tax exemption from current $1 million to $2 million for decedents dying in 2011 or later. Click Here for PollOnline SurveyConjoint Analysis | Polls | Email Marketing | Feedback TabView MicroPoll
Increasing Hall Income Tax Exemptions
Sen. Ron Ramsey (R-2) filed SB0261 which would increase the Hall income tax exemption for taxpayers 65 years of age or older. The minimums would increase from $16,200 to $26,200 for single filers and go up from $27,000 to $37,000 for persons filing jointly beginning January 1, 2012. This Bill is in addition to the [...]
Raising Hall Income Tax Exemption Amounts
Rep. Charles Sargent (R-61) and Sen. Jack Johnson (R-23) filed HB0122/SB0108 which would increase the amount of income exempt from the Hall Income Tax from $1,250 individually and $2,500 jointly to $1,500 individually and $3,000 jointly. These limits would automatically increase for inflation beginning in 2012 and subsequent years, with the maximums adjusted for inflation [...]
Inheritance Tax Exemptions Up To $5 Million
SB0099 filed by Sen. Jim Tracy (R-16) increases the exclusion amount under the inheritance tax exemption from $1 million to the federal amount of $5 million for decedents dying in 2011, and continues at such amount for decedents dying in any year thereafter. Click Here for PollOnline SurveyConjoint Analysis | Polls | Email Marketing | [...]
House Joint Resolutions 01/14/2011
HJR0014 filed by Rep. G.A. Hardaway (D-92) would create a special committee to study the impact of slavery and segregation on African Americans in Tennessee. HJR0015 filed by Rep. G.A. Hardaway (D-92) urges the Department of Finance and Administration to create a searchable database Web site detailing the who, what, when, where, and why of [...]
Flood-Related Sales Tax Bill Gains Senate Sponsor
HB0006 filed by Rep. Jim Gotto (R-60) has gained sponsorship in the Senate as SB0024 by Sen. Jack Johnson (R-23). The Sales Tax Exemption for Flood Survivors is the subject of several Bills this Session, all of which now have Senate sponsorship. Click Here for PollOnline SurveyConjoint Analysis | Polls | Email Marketing | Feedback [...]
Aviation Fuel Sales Tax Reports
SB0045 filed by Sen. Jim Tracy (R-16) would require the most recent sales tax reporting period be used by aviation fuel dealers for purposes of filing a monthly report with the department of revenue. A failure to file the report shall result in a civil penalty to be determined by the commissioner. Click Here for [...]
Abolishing the Income Tax on Stocks and Bonds
HB0046/SB0033 filed by Rep. Cameron Sexton (R-25) and Sen. Charlotte Burks (D-15) would abolish the income tax on stocks and bonds by 2015, while lowering the tax rate from 6% to 4% in 2013 and from 4% to 2% in 2014. This is currently the only form of income tax our state government is authorized [...]
Resolutions 01-13-11
CONSTITUTIONAL (HOUSE): HJR0010 filed by Rep. Glen Casada (R-63) is identical to SJR0018 filed by Sen. Brian Kelsey (R-31) (see below). CONSTITUTIONAL (SENATE): SJR0018 filed by Sen. Brian Kelsey (R-31) seeks to change the language of Article II, Section 28 and Article XI, Section 9 of the Tennessee Constitution to specifically forbid the State and [...]