State Tax Laws - Tennessee

Only dividends and interest are taxed in Tennessee, wages and other earned income are not. An inheritance tax ranges from 5.5% to 9.5% of the value of the inherited property. Sales taxes are 7% but may be up to 2.75% higher in various localities.

There is a corporate flat tax rate of 6.5%, there also is a franchise tax that is rather complex to determine, as it taxes various assets at differing rates. For more information please see: http://www.tn.gov/revenue/


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