Tennessee may soon have NO income tax.
Now it taxes only interest from notes and bonds and dividends.
Recently the new law lowers the tax rate to 5% (from 6%) for 2016 and drops further
until the tax is gone at the end of 2021.
There are SEVEN states with no income tax:
- Alaska
- Florida
- Nevada
- South Dakota
- Texas
- Washington (state)
- Wyoming