Tag: income tax
-
Taxes Are, Well, Taxing
What IRS migration data says about Northeast Tennessee’s income inflow It’s tax season, and we’re all thinking about federal income taxes. But a lot of Americans are also thinking about state income tax, and some even pay a local income tax. Tennessee is the only centrally located state in the Eastern U.S. that doesn’t levy…
-
Rate vs. Reality: The Real Math of Property Taxes
Explaining how property tax works is difficult at best. Today, in two separate publications from Tennessee and Virginia, I saw articles detailing rate changes. One was in Radford, Virginia, the other in Kingsport/Sullivan County, Tennessee. The articles state that Radford will increase it’s tax rate by almost 20% to $0.92, while Sullivan County’s preliminary certified…
-
At The End of The Day, People Vote with Their Feet
I’ve come to realize that many states are trying to replicate what we have in Tennessee—no income tax, no personal property tax, and no inheritance or estate tax. At last count 15 states are trying, but it’s easier said than done because they’ve become accustomed to that revenue stream and rarely want to cut costs.…
Kingsport Spirit 