Making a UTV street legal?

[bigdeer2000]

Wheel tax is bad, but income tax (which we don't have ) is much worse. At least everyone who buys a tag pays the tax.

 

[Misfire]

Wheel tax is bad, but income tax (which we don't have ) is much worse. At least everyone who buys a tag pays the tax.

Yes you do.

Tennessee Income Tax

 

[bigdeer2000]

I did not go to your link, it must reference the hall income tax on dividends. I used to live in a state that had income tax and there is no comparison.

 

[Misfire]

I did not go to your link, it must reference the hall income tax on dividends. I used to live in a state that had income tax and there is no comparison.

It exempts earned income, but really nails retirees living off of investments, unless they have all their money in certain exempt investment categories. It's still an income tax. People planning to relocate to Tennessee need to know about it, especially if they have any investments.

 

[bigdeer2000]

It exempts earned income, but really nails retirees living off of investments, unless they have all their money in certain exempt investment categories. It's still an income tax. People planning to relocate to Tennessee need to know about it, especially if they have any investments.

I don't know about any investments, hall exempts the 1st 37,000 in investment income. 6% of dividend income is less than 6% of all income including earned and unearned

 

[Misfire]

I don't know about any investments, hall exempts the 1st 37,000 in investment income. 6% of dividend income is less than 6% of all income including earned and unearned

I'm sorry. I don't understand what you mean by that. Earned income is income from wages and salaries. It exempts all of it. It also exempts certain categories of investment income. The rules were somewhat complex the last time I looked at it in detail.

 

[bigdeer2000]

An actual state income tax would be a much greater burden on all residents than the hall income tax is. 6% tax on all income would be quite a bit more than the hall tax. I have lived in both systems and I like tennessee's better. As this has gotten way off topic, I am done with this. You may have the last word on this if you feel the need

 

[Misfire]

An actual state income tax would be a much greater burden on all residents than the hall income tax is. 6% tax on all income would be quite a bit more than the hall tax. I have lived in both systems and I like tennessee's better. As this has gotten way off topic, I am done with this. You may have the last word on this if you feel the need

Thank you. I'll sum it up.

The whole point is Tennessee does have an income tax. It exempts wages and some other forms of income, but it is still an income tax. Stating that Tennessee does not have an income tax is widely practiced. In some, perhaps most cases it is a misunderstanding. In others, it is a deliberate falsehood spread to make the state look more attractive to retirees than it really is, especially those whose retirement is based on investment income. It's the latter practice that I find troubling.

As a retiree myself, I don't like to see developers get away with peddling the state to my fellow retirees as a retirement tax haven when it's not. So, when I see Tennessee described as a non-income tax state, I aways try to set the record straight.

 

[Dr Dave]

They are legal in South Dakota, I dont know if they can cross the state line and be legal in Iowa, or Nebraska? They seem safer than a motorcycle.

Dave