The Tax Advantage

No Income Tax

Tennessee does not have a state income tax.

Sales Tax

The state sales tax is 7% for companies or people that distribute, sell, manufacture, or distribute tangible property. Hickman County adds a sales tax of 2.75%.

Sales tax is not levied on

  • Raw material for processing
  • Purchases, installation and repairs of qualified industrial machinery.
  • Machinery and equipment used for the production of electricity using clean energy technology
  • Material handling systems for qualified warehouse and distribution facilities purchased during a three-year investment period.
  • Certified pollution control equipment for manufacturers
  • Qualified industrial supplies
  • Computer equipment, peripheral devices and software purchased for a qualified data center with an investment of $250 million 
  • Containers, packaging and wrapping materials.
  • Items purchased for resale

There is reduced sales tax rates for manufacturers' use of energy fuel and water (1.5% vs. 7%), and additional exemptions or credits may be available.

Property Tax

The property Tax rate per $100 of assessed (25%) value in Hickman County is $2.54 (2014) with Centerville adding $0.92 for properties within the city limits. There is no ta on

  • Goods-in-transit (free port)
  • Finished goods inventories in hands of manufacturers
  • Goods-in-progress
  • Inventories of merchandise for sale

 

 

Login