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« My Name is Bill and I Am A Blogger | Main | And The Winner Is... » June 15, 2004The MissingAs far as I can tell, none of Tennessee's major newspapers , Knoxville, Memphis or Chattanooga has reported on this month's state tax revenue data - even though it shows the revenue surplus will be even larger than anticpated just a month ago. The data was released Friday, giving the papers several days to have covered the story - or at least just publish the press release. But, as far as I can tell, the only news outlets to mention it were an online news site in Chattanooga, the website of the Memphis Business Journal, and the subscription-only NashvillePost.com. You'd think the state piling up a very large revenue surplus would be considered news by The Tennessean, the Knoxville News Sentinel, the Memphis Commercial-Appeal, the Chattanooga Times-Free Press, and even smaller-city papers like the Jackson Sun and the Clarksville Leaf-Chronicle - especially after four years of claims that the state tax structure was flawed and couldn't keep up with the state budget. Posted in Tennessee Budget & Tax Policy
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we are going to Gatlinburg startng on the 21st for 4 day days. The Cabin rental was $525.00, total bill is $616.69 where $11.81 was city tax and $49.98 was State tax and the rest some sort of processing fee - had trouble finding a cabin due to everyone and their brothers coming to TN, in other words tons of taxes will be collected then and over the whole summer We will of course visit restuarants and buy gifts. more rather large taxes being paid of course TN needs a income tax after what? a 9% sales tax also - I have a family member near Murfreesboro/Smyrna area that has over 20 employees, she is thinking about moving her business to Florida as TN is getting out of hand Posted by: Paul at June 15, 2004 08:08 AMOh, that liberal media. Posted by: Drake at June 15, 2004 09:30 AMScientists can stop looking in space, governments have proven that black holes do exist especially when it comes to taxes. Posted by: Rick at June 15, 2004 09:42 AMBill, the Commercial Appeal did mention the surplus several weeks ago, in a wrap-up summary article about the recent legislative session. It was one short paragraph in the middle of the article! That's been it. Has anyone done a study since the sales tax increase to find out how many folks are still shopping "across the border?" In Memphis, that only means a $2 savings per hundred spent; hardly worth it except on big items. I'd like to know if it spiked right after the increase and then dropped off or held steady. Posted by: mike hollihan at June 15, 2004 12:06 PMAnd, after speaking with my tax lawyer yesterday, he advises me that there is a an extremely high probability that the legislature will start ending long-standing exemptions from franchise & excise taxes. It's much easier for them to go after a small group with no organized constituency than to go for a tax increase on the masses. You might also see the sales tax exemption for 501(c)(3)'s go by the wayside. Posted by: M McKin at June 15, 2004 03:52 PMHave your lawyer email me all pertinent info and I'll start writing about that now. We can gin up opposition. If your lawyer wishes to remain unnamed in the coverage, I will accomodate that. Posted by: Bill Hobbs at June 15, 2004 04:27 PMHe believes that it is premature. He says that his "contacts" (unnamed, for obvious reasons) in the Department of Revenue report that the Department is pushing the administration on this issue; however, we really won't know what to expect until the next session begins and we see what kinds of specific proposals are made. I'll stay on top of it and follow back up with you if this moves forward. Posted by: M McKin at June 16, 2004 07:54 AMPost a comment
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