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.

- Advertisement -

“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.”

spot_img
spot_img

Hot this week

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Sports betting bill still alive in Georgia House

(The Center Square) – A bill that would allow...

Men of Color Expo – Celebrating Men of Excellence

Tinker Federal Credit Union & PPBC Present Men of Color...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Golden Dome’s $185 billion price tag faces uncertain funding

The general leading President Donald Trump's ambitious Golden Dome...

MPS superintendent talks belt-tighten, praises possible end of Act-10

(The Center Square) – Milwaukee’s superintendent says she understands...

Snohomish firefighters ask SCOTUS to intervene in religious accommodation lawsuit

(The Center Square) - Eight Snohomish firefighters are asking...

Burrows raises alarm about online gaming platforms promoting school shootings

(The Center Square) – Speaker of the Texas House...

Registration changes produce 10 in 10 declining both major parties

(The Center Square) – Major parties remained out of...

Judge clears path for Amazon data center in west Shreveport

(The Center Square) – Caddo Parish Judge Ramon Lafitte...

Chicago officials investigate ex-mayoral employee, drinking by city workers

(The Center Square) – The Chicago Board of Ethics...

Los Angeles mayor proposes $14.85 billion budget

(The Center Square) – Los Angeles Mayor Karen Bass...

More like this
Related

Golden Dome’s $185 billion price tag faces uncertain funding

The general leading President Donald Trump's ambitious Golden Dome...

MPS superintendent talks belt-tighten, praises possible end of Act-10

(The Center Square) – Milwaukee’s superintendent says she understands...

Snohomish firefighters ask SCOTUS to intervene in religious accommodation lawsuit

(The Center Square) - Eight Snohomish firefighters are asking...

Burrows raises alarm about online gaming platforms promoting school shootings

(The Center Square) – Speaker of the Texas House...