We all know, painfully, about the U.S. income tax, with tax filings due less than a month from now.
Some states also levy their own income tax.
Fortunately, Tennesseans do not have a general state income tax on their salaries and wages, though Tennessee does have a tax on income from dividends and interest. It’s generally called the “Hall income tax,” named for its legislative author.
Unfortunately, from time to time there is a suggestion that Tennessee might impose a general income tax. It shouldn’t. But the issue isn’t absolutely clear constitutionally to some. That’s why the Tennessee Senate recently voted to clarify the state constitution specifically to prohibit a general income tax.
The Tennessee House of Representatives should quickly follow the state Senate’s example.
That would start the process of getting the issue put before the voters of Tennessee in 2014. If it gets that far, voters should adopt a definitive state income tax ban.
That would be advantageous to our economy by keeping Tennessee attractive for more business and industrial growth for the benefit of us all.