Tag Archives: Jack Daniels

Tennessee among states with highest alcohol taxes

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Drink up and support state government. Tennessee’s tax system is one of the most business-friendly in the country, but not so when it comes to taxes for your favorite adult beverage.
Tennessee ranks sixth on the “Worst States for Alcohol Taxes” list complied by NerdWallet, a financial information website founded by a former hedge fund analyst and a derivatives trader.
Beer drinkers pay the highest taxes at 11 cents per standard drink, the highest beer tax in the country, according to the NerdWallet analysis of alcohol taxes for all 50 states.
Arkansas has the next highest beer tax at 10 cents per standard drink.
Tennessee taxes on wine and spirits are considerably less stiff at 5 and 5.2 cents per standard drink, respectively, NerdWallet says. The relatively low rate on spirits is understandable given that Tennessee is the home of the iconic Jack Daniel’s Distillery.
The worst state for alcohol taxes is Washington, where the tax on spirits is a whopping 41.3 cents per standard drink.
To compile its rankings, NerdWallet says it, “crunched to numbers to find the states with the highest taxes on alcohol and compared those numbers with the total volume of beer, wine and spirits consumed in each state. The result? A definitive guide to which states tax their citizens the most for their enjoyment of booze.
Click here for the NerdWallett report.
Click here for Tennessee Department Revenue info on alcoholic beverages taxes.

Haslam video touts state for CNBC Twitter Battle

CNBC on Tuesday will reveal the results of its sixth annual look at “America’s Top States for Business.”0115inauguration27_asb.jpg

New this year is a Twitter Battle — featuring short videos from the states’ governors. All 50 guvs were invited to submit videos detailing what makes their state the best for business.

In less than two minutes Gov. Bill Haslam makes the case for Tennessee. He mentions, among other things,  the state’s growing automobile manufacturing sector and a wide variety of consumer products made in Tennessee  — M&Ms, solar panels, chemicals, Jack Daniels and more.

Haslam makes sure to note that Tennessee has “one of the lowest state tax burdens in the country.”

Click here for Haslam’s video

All of the videos are on CNBC.com. Viewers can vote for their favorite via state-specific hastags — as in #TopStatesTN for Tennessee.