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Hall income tax information


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 filing jointly). Revenues were shared with the government of the municipality or county where the taxpayer resided.

Between 2016 and 2020, the state reduced the Hall income tax by one percentage point each year, leading to a full repeal of the tax in 2021.[2][3] As of January 1, 2021 the Hall income tax no longer exists and the state does not levy a personal income tax of any form on individuals.

  1. ^ Tenn. Code Ann. § 67-2-102
  2. ^ Denson, Sarah (April 26, 2017). "Tennessee governor signs IMPROVE Act into law Archived 2017-07-14 at the Wayback Machine". Associated Press. WKRN. Nexstar Broadcasting, Inc.
  3. ^ "Hall Income Tax Notice Notice #17-09: Phasing Out of the Tax". Tennessee Department of Revenue. May 2017. Archived from the original Archived 2017-08-02 at the Wayback Machine on July 12, 2017.

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