Tennessee Tax FAQs

• taxmOuth Tennessee Tax FAQs

Tennessee Tax Forms

• taxmOuth Tennessee Tax Forms

Tennessee Corporate Taxes

• taxmOuth Tennessee Corporate Taxes
• Tennessee Tax Rates & Brackets:
  
  6.5%> $0
  
• Loss Carry-back/fwd: 0 Years Back / 15 Years Forward (Unlimited)
• Throwback Sales?: N
• Foreign Tax Deductible?: Y
• Alternative Minimum Tax (AMT): N
• Gross Receipts Tax: N
• Capital Stock (Net Worth) Tax?: 0.250%

Tennessee Tax Incentives and Credits

• taxmOuth Tennessee Tax Credits
• Job Credits?: Y
• R&D Credits?: Y
• Investment Credits?: N

Tennessee Individual Income Taxes

• taxmOuth Tennessee Individual Income Taxes
• Tennessee tax rates and brackets:
  
  6%> $0
  
• Local Option IT Rate: None
• Federal Inc used as Base?: N
• Standard Deductions: Single None / Joint None
• Personal Exemptions/Credits (c): Single $1,250 / Joint $2,500 / Dependent None
• Federal Tax Deductible?: N
• State Tax Deductible?: Y
• Alternative Minimum Tax (AMT)?: N

Tennessee Estate, Gift and Inheritance Taxes

• taxmOuth Tennessee Estate and Gift Taxes
• Gift Tax?: Y
• Estate Tax?: Copies Federal
• Inheritance Tax?: Y
• Generation-Skipping Tax?: N

Tennessee Miscellaneous Taxes

• taxmOuth Tennessee Miscellaneous Taxes
• Gas Tax: 21.4 cents/gallon
• Diesel Tax: 18.4 cents/gallon
• Cigarette Tax: 62.0 cents/20 pack

Tennessee Pass-through Tax Treatment

• taxmOuth Tennessee Pass-through Entity Tax
• LLC Pass-through Recognized?: Y
• S-Corp Pass-through Recognized?: N

Tennessee Payroll Taxes

• taxmOuth Tennessee Payroll Taxes
• Unemployment Insurance Tax Index (TaxFoundation.org): #32

Tennessee Property Taxes

• taxmOuth Tennessee Property Taxes
• Median Tax Paid on Homes (Rank): $924 (#41)
• Median Value of Homes: $138,600
• Tax as % of Home Value (Rank): 0.67% (#34)
• Median Income of Homeowner: $53,794
• Tax as % of Income (Rank): 1.72% (#38)

Tennessee Sales and Use Taxes

• taxmOuth Tennessee Sales and Use Taxes
• State Rate: 7.00%
• County & City (Weighted Ave): 2.41%
• Combined State and Ave. Local Rates (Rank): 9.41% (#1)
• General Treatment of Services: Exempt
• Gasoline: Exempt
• Groceries: Partial