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While the sales tax remains the main source of state government funding, property taxes are the primary source of revenue for local governments. Agriculture. Tennessee has the eighth-most farms in the nation, which cover more than 40% of the state's land area, and have an average size of about 155 acres (0.63 km 2).
The Hall income tax was a Tennessee state tax on interest and dividend income from investments. [1] It was the only tax on personal income in Tennessee, which did not levy a general state income tax. The tax rate prior to 2016 was 6 percent, applied to all taxable interest and dividend income over $1250 per person ($2500 for married couples ...
The franchise tax refunds are the largest, single new item in Tennessee Gov. Bill Lee's budget, recently approved by lawmakers. Majority of $1.5B franchise tax refunds would flow out of Tennessee ...
Tennessee is one of the 50 states of the United States. What is now Tennessee was initially part of North Carolina, and later part of the Southwest Territory. It was admitted to the Union on June 1, 1796, as the 16th state. Tennessee earned the nickname "The Volunteer State" during the War of 1812, when many Tennesseans helped with the war ...
The Tennessee General Assembly applauds as Gov. Bill Lee arrives to deliver his State of the State address in the House chamber of the Capitol in Nashville, Tenn., Monday, Feb. 5, 2024.
The state is refusing to name the 80 companies that have sought franchise tax refunds from the state, a move that Finance Commissioner Jim Bryson says prompted Lee to include $1.2 billion in ...
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