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10-10-2006, 04:40 PM
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Taxes
I am a long time viewer, first time writer. I have been following the threads on Tennessee. I've apprecaited all the info shared. One concern I have is the state income tax. I've read that Tennesse does tax investment income. Would this include a retirement pension?
I work in local government in Wisconsin and will be drawing a pension soon and would love to relocate to Tennessee. Would my pension be subject to tax? 
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10-10-2006, 05:11 PM
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There is NO state income tax in TN.
 I would assume that would include pension, but maybe not if it comes from a different state. My suggestion would be to call a CPA in TN.
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10-10-2006, 05:49 PM
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Thanks! Compared to Wisconsin that is awesome news. We seem like we lead the league every year at being near the top for the highest tax rate! Can't wait to visit this April when we are still ice fishing back home!
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10-10-2006, 06:57 PM
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Frozen
My husband is a CPA and we too are relocating to TN. so he has researched the tax code there. I just asked him about your question and the answer is no. Your pension would not be taxed. TN only taxes on interest and dividends.
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10-10-2006, 07:55 PM
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Now that is great news. Thank your husband for all his research! Has he investigated the eastern portion of the state around Maryville by any chance as far as relocating?
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10-10-2006, 08:14 PM
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Frozen
Eastern it is!!!! Specifically we are looking at the Cosby area to Greeneville and possibly a little north into Scott County. That is the general area we have narrowed down for our needs and wants. We think the Maryville area is beautiful, but we want large acreage and we can get more land for less $$ farther east. We have been visiting the area regularly for about 15 years and have started seriously looking for property in the last 2 years. There are some great threads on this board about Greeneville - check them out. and I beleive I saw a thread about Maryville too. Also, our moderator is very helpful and knowledgeable about east TN Good Luck!!! Last edited by J.R.; 10-10-2006 at 08:17 PM. Reason: content
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10-10-2006, 09:44 PM
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J.R.
Sounds solid as Sears. I like your logic. I have accumulated vast amounts of data from this web page and have placed it in a binder by region. Maryville seems a front runner to me based on what I've been hearing about the school system. I still have little ones, so as of right now, it gets the nod. I beleive you have to live in Maryville to qualify for that school district. Someone can correct me on that one. The other concern is to live in a rural area, but not too far from civilization for the convience of day to day stuff. But I will be investigating your spots! Thanks
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