Archive for September, 2011

Memphis Window Tint Law

Posted: September 22, 2011 in Nitegator

Tennessee Tint Law Enacted: 1990

Darkness of tint is measured by Visible Light Transmission percentage (VLT%). In Tennessee, this percentage refers to percentage of visible light allowed in through the combination of film and the window.

Windshield – Non-reflective tint is allowed along the top of the windshield above the manufacturer’s AS-1 line.
Front Side Windows  – Must allow more than 35% of light in.
Back Side Windows – Must allow more than 35% of light in.
Rear Window – Must allow more than 35% of light in.

Similar to sunglass lenses, some tinting film contain metallic elements that help in reflecting incoming light and reducing the glare and heat generated by visible light. 

Front Side Windows  – No metallic or mirrored appearance.
Back Side Windows  – No metallic or mirrored appearance.

Restricted Colors – No colors of tint are explicitly banned.
Side Mirrors – No restrictions.
Certificate Requirements – Manufacturers of film do NOT need to certify the film they sell in the state.

Sticker Requirements – The sticker to identify legal tinting is required between the film & glass on the driver’s side window.

Medical Exemption – State allows medical exemptions for special tint. 

For more details about the specific terms of the exemption, consult your state law.

Capital Gains Income

Posted: September 22, 2011 in Nitegator

Warren Buffett recently enraged the Right by chastising Congress for “coddling” millionaires and billionaires. In a widely quoted op-ed, he urged lawmakers to “raise rates immediately on taxable income in excess of $1 million,” including capital gains. Buffett is right, but not entirely. The ideal reform would make some capital gains tax-free. For the very richest Americans, low tax rates on capital gains are better than any Christmas gift. As a result of a pair of rate cuts, first under President Bill Clinton and then under Bush, most of the richest Americans pay lower overall tax rates than middle-class Americans do. And this is one reason the gap between the wealthy and the rest of the country is widening dramatically. The rates on capital gains — which include profits from the sale of stocks, bonds and real estate — should be a key point in negotiations over how to shrink the budget deficit. If a taxpayer bought a piece of undeveloped land in 1991 for $100,000, paid property taxes for 20 years but made no changes to the property, and in 2011 sold that undeveloped land for $165,000, the taxpayer would owe capital gains tax on $65,000. But the taxpayer has experienced a gain only as far as the IRS is concerned. In those intervening 20 years, cumulative inflation was approximately 65 percent. The taxpayer has the same purchasing power with $165,000 as he or she had 20 years ago with $100,000 — but must pay taxes on the $65,000 that is attributable to inflation. The same capital gains tax is paid whether the $65,000 increase occurs over one year or 20.

In the United States, individuals and corporations pay income tax on the net total of all their capital gains just as they do on other sorts of income. Capital gains are generally taxed at a preferential rate in comparison to ordinary income (26 U.S.C. §1(h)). This is intended to provide incentives for investors to make capital investments, to fund entrepreneurial activity, and to compensate for the effect of inflation and the corporate income tax. The amount an investor is taxed depends on both his or her tax bracket, and the amount of time the investment was held before being sold. Short-term capital gains are taxed at the investor’s ordinary income tax rate, and are defined as investments held for a year or less before being sold. Long-term capital gains, which apply to assets held for (more…)