The so called death tax in Tennessee will be fully repealed on January 1, 2016.

In 2012, the General Assembly began a four-year phase out of the tax. Repealing the death tax was the Beacon Group's top priority that year.

Beacon CEO Justin Owen stated, "Tennessee taxpayers can finally breath a sigh of relief. For the first time in nearly a century, Tennessee will no longer have a death tax. Repealing the death tax was one of Beacon's greatest policy victories, and we truly appreciate the leaders across our state who we worked with to get this done."

Owen went on to note that "Tennesseans of all economic backgrounds can now rest easy knowing that the fruits of their labor can be passed on to their loved ones rather than padding government coffers."