IRS: Tennessee $4.7B individual income increase from in-migration



(The Center Square) – Tennessee saw the fifth-largest population increase from other states between 2021 and 2022, according to new data released by the Internal Revenue Service.

Tennessee saw a net increase of nearly 60,600 during that calendar year, a population increase of 0.87% during the year, with a net increase of nearly $4.7 billion in adjusted gross income on individual tax returns.

Tennessee saw an increase of a net nearly 22,000 individuals from California between the two years and nearly 6,400 from Illinois while Tennessee saw a slight net loss in population to Georgia.

The tax returns from those who moved from California showed a net increase of $1.5 billion in annual adjusted gross income.

The IRS data is similar to U.S. Census Bureau data, which showed an 83,000 population gain from 2021 to 2022, a 1.2% population increase.

“I’m often asked why so many families & companies move from California to Tennessee,” Gov. Bill Lee wrote in March 2023 in response to a Tennessee crime stats tweet from California Gov. Gavin Newsom. “People want to live in a low-tax state that supports families & believes freedom & opportunity belong to everybody – not just the elite.”

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below



Share post:


More like this

Ohio reactions mixed to Trump’s selection of Vance

(The Center Square) – Former President Donald Trump's pick...

Disconnected nine years ago, St. Louis seeks proposals for new red-light cameras

(The Center Square) – Approximately nine years after the...

Michigan politicians respond to Trump assassination attempt

(The Center Square) – Michigan politicians from both sides...

Maine GOP pushes for voter ID requirement

(The Center Square) — Supporters of requiring photo identification...