Tennessee's relatively low tax rate helped the state outperform the country in its economic growth over the past decade, according to a new conservative study that ranks Tennessee as one of the top states for its economic outlook. From 2007 to 2017, Tennessee's overall economy as measured by its gross domestic product grew by 43.1 percent — the seventh fastest of any U.S. state and above the national average in all but two of the 10 years. The Volunteer State also added a net 235,494 persons from domestic migration — the 9th highest of any state — and grew payroll employment by 8 percent to rank 13th among the states. Top states for economic outlook Based upon the limited tax and regulation goals of the conservative American Legislative Exchange Council, the top U.S. states are:1. Utah.2. Idaho3. North Dakota4. Nevada5. Indiana6. North Carolina7. Tennessee8. Florida9. South Dakota10. ArizonaSource: American Legislative Exchange Council. Georgia ranked No. 18 and … [Read more...] about This is why Tennessee ranks as one of the top 10 states for economic outlook
Does arizona have a state income tax
Annalee Monroe Arizona Republic Published 10:24 AM EDT Mar 10, 2019 MEDIA: Speech WHO SAID IT: Gov. Doug Ducey THE COMMENT: "We don't do money bills outside the budget. It should be no surprise to any legislator that a bill that involved money done outside the budget was vetoed." THE FORUM: Press gaggle on Feb. 5 WHAT WE'RE LOOKING AT: Whether Gov. Doug Ducey's stated reason for vetoing a bill regarding Arizona income taxes is accurate. OUR FINDING: Three Stars, Mostly True ANALYSIS: Gov. Doug Ducey told reporters on Feb. 5 that the Arizona governor and Legislature do not pass bills with a significant fiscal impact outside the budget process, and any such bill would be vetoed. The justification came just days after Ducey vetoed Senate Bill 1143 that would have kept state taxes flat while making Arizona's tax code "conform" to changes in the federal tax code. This issue has created concern and confusion as … [Read more...] about Fact Check: Gov. Doug Ducey’s veto of Arizona income tax bill
Ryan Randazzo Arizona Republic Published 8:06 PM EST Feb 1, 2019 Gov. Doug Ducey vetoed a bill Friday that would have headed off a state tax increase for individual Arizona filers. The governor's move both clouds the financial picture for Arizonans preparing their 2018 taxes and foreshadows them paying more. Republicans in the Senate and House on Thursday sent Ducey a bill to "conform" Arizona's tax code to changes in the federal tax code that took effect with President Donald Trump's Tax Cuts and Jobs Act of 2017. That act reduced federal taxes for most people, but the federal cuts will indirectly increase state taxes for Arizonans. Arizona usually conforms to federal changes on how taxable income is calculated. If the state adopts the federal changes but doesn't reduce its own tax rates, Arizona taxpayers will take a big hit. The impact was estimated at a $195 million state-tax hike on individual Arizona filers and a $40 million cut for businesses. … [Read more...] about Arizona Gov. Doug Ducey vetoes state income-tax bill
Ryan Randazzo Arizona Republic Published 8:09 PM EST Jan 31, 2019 Arizona lawmakers narrowly approved changes Thursday that will prevent a $195 million tax hike on individual income-tax filers this year, sending the measure to Gov. Doug Ducey, who has said he wants state tax revenues to go up. The Senate and House voted along party lines for a Republican measure that will "conform" Arizona's tax code to the changes ushered in by President Donald Trump while ensuring Arizonans don't pay higher state taxes as a result. Democrats opposed the measure and encouraged changes that would increase state taxes and use the money for the rainy-day fund, education or transportation. "Cutting our income-tax rates does not help relieve the burden those in the lowest brackets are carrying," said Rep. Mitzi Epstein, D-Phoenix. Federal cuts could raise state taxes While the federal Tax Cuts and Jobs Act of 2017 reduced federal taxes for most people, they could have indirectly increased state … [Read more...] about Arizona Legislature approves changes in income-tax rate, defying Ducey
opinion Abe Kwok Arizona Republic Published 8:37 AM EST Jan 9, 2019 Leadership of the incoming Arizona Legislature says hyperpartisan bills won't see the light of day, especially given the body's more evenly divided political makeup this session. A litmus test of that pledge will be a set of GOP legislative proposals aimed at punishing teachers who actively championed the #RedforEd movement last year. The presumption – hope? – is that little time will be wasted on such a petty, vindictive pursuit. Which, by default, should give a large berth to the early heavyweight bill on education – Sen. Sylvia Allen's proposal to refer to the 2020 ballot a full-penny tax to infuse extra money into K-12, universities and community colleges. (An alternative proposal that also seeks a 1-cent tax but would distribute money slightly differently is being drafted by Sen. Kate Brophy McGee and others.) Short-term question: Does it have a shot? … [Read more...] about Will Arizona approve a penny sales tax for schools? And is it enough?