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Old 12-30-2011, 04:51 PM
 
49 posts, read 65,217 times
Reputation: 34

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My spouse and I want to move to the friendly South, and we are doing our research now. We have narrowed the area down to Northern Georgia or East Tennessee. One huge advantage Tennessee has, is the lack of a State Income Tax. I will not work anymore as I will be retired. Only thing that is really of interest to us is a country type area with a lot of creeks. Would like to buy 5 acres with a creek running through or bordering the property, and a Home Depot or Hardware store in a reasonable distance...That's it!!

Any thoughts or ideas for us ?

By the way, Jack Daniels is an awesome Whiskey. I got a taste of it 41 years ago, my mother had just died and I had a bottle of J.D. on hand. I was pretty upset all night and kept drinking, ... 3/4 of a bottle. Next day no headache...Impressive! Can't make that statement about wine!
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Old 01-04-2012, 04:17 PM
 
Location: Chattanooga, TN
3,045 posts, read 5,202,026 times
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If you're retired, then the lack of a state wage income tax actually works against deciding on TN. The gub'ment has to get money somewhere, so because they aren't getting a percentage of your wages they have higher sales tax (up to 9.75% in some areas) and other fees to make up for it. See TN Tax Rates.

If you don't have wage income then that means zero wage taxes in any state. But TN DOES have an income tax on some interest and dividends. So if your retirement income comes from taxable interest and dividends, then your rate would be 6%/year (less some deductions). I don't remember if GA taxes retirement income or not.
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