gift tax

Statement by Lt. Gov. Ron Ramsey; May 18, 2012: Dear Friend, Earlier this month, the 107th General Assembly concluded its business. My goals for this legislature were the same ones I had when first elected: give the people of Tennessee what they have asked for: more jobs, less spending and smaller government. Now, with partners […]

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Depending on who you’re talking to, the talk of tax cuts at the Capitol amounts to election year politics or just good policy as the economy recovers. Here’s the lay of the land on who wants to cut what, and how that could impact the bottom line for Tennesseans.

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Gov. Bill Haslam said he won’t know until next month whether he will support a reduction in the tax on large gifts. The tax ranges from 5.5 percent to 16 percent on gifts like land or automobiles.

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Lt. Gov. Ron Ramsey has said he wants the tax on investments reduced, but House Speaker Beth Harwell says she wants to take a pass on that this year.

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