A group known as Tennesseans Against Death Taxes is lobbying the Tennessee government to repeal Tennessee gift and inheritance taxes. Tennessee is one of only two states that charge gift taxes. Our state gift tax roadblocks a lot of good estate planning that could otherwise be done, with the result that families pay significantly more federal estate taxes. A number of our clients have moved to Florida to avoid these taxes and the Tennessee Hall income tax.
If you would like the Tennessee gift and inheritance taxes to be repealed, you should consider contacting your representatives in the near future. Enclosed are a sample letter in Word and PDF, a list of Senate and House contacts, and an economic study prepared by Art Laffer, a former economic advisor to President Reagan.