Friday, January 14, 2011

Abolish the Hall Income Tax, Hip Hip HOORAY!!

HB0046/SB0033 filed by Rep. Cameron Sexton (R-25) and Sen. Charlotte Burks (D-15) would abolish the income tax on stocks and bonds by 2015, while lowering the tax rate from 6% to 4% in 2013 and from 4% to 2% in 2014. This is currently the only form of income tax our state government is authorized to collect under its Constitution.