Mark Green in Forbes Magazine


On Tax Reform: Eliminate Hall tax: 6% on unearned interest and dividends

In Tennessee, we can see some real progress: a phase-out of the state's much-loathed "Hall tax" on unearned income. The Hall tax has long been a thorn in the side of an otherwise low-income-tax state. Tennessee does not levy a general state income tax However, the Hall tax was a 6% bite out of interest and dividend income from investments.

The elimination of the Hall tax is crucial for several reasons. First, in the race for residents and jobs, a state's tax environment becomes a huge factor. Once the Hall tax is a thing of the past, Tennessee will become a more attractive destination for owners of Subchapter S corporations, as well as for retirees--in other words, anyone with investments.

Senate Commerce Committee Vice Chairman Mark Green stated in support of the bill that "the best place for the earnings of our citizens is in their own personal budget and not the state's to spend." Green's words ring true with anyone looking for job-creating, growth-encouraging reform.

Source: Forbes Magazine OpEd on 2018 Tennessee Gubernatorial race May 4, 2016

The above quotations are from Forbes biweekly business magazine.
Click here for other excerpts from Forbes biweekly business magazine.
Click here for other excerpts by Mark Green.
Click here for a profile of Mark Green.
Please consider a donation to OnTheIssues.org!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
E-mail: submit@OnTheIssues.org
(We rely on your support!)

Page last updated: Sep 29, 2024