* State beneficiary registers are open
Tennessee is a landlocked state in the south of the United States. In the extreme southwest of the state is the city of Memphis. A capital is Nashville.
If you need help in registering a business in Tennessee, ask for individual legal advice on the registration an American company from international YB Case expert.
Tennessee tax rates
|
% |
A type of tax |
|
21 |
a federal income |
|
0 |
percents and dividends on the first $1,250 of individual income and $2,500 of joint income |
|
7 |
from sales and use * |
|
0 |
a payroll tax |
|
3 |
most percents and dividends ** |
|
1,5-2,75 |
local sales taxes |
|
8,5-9,75 |
a total sales tax |
* Grocery products, except sweets, dietary supplements and prepared meals, are taxed at a rate of 5,25%.
** Must be canceled by 2022.
Tennessee levies inheritance taxes that exceed $1 million.
Shareholders of insurance, investment and any credit companies pay tax on shares of intangible property at 40% of the value multiplied by the tax rate for jurisdiction.
Tennessee is one of the ten states with the largest tourism profits.
Regulator requirements for registering Tennessee companies
1 or more shareholders and directors may open a commercial firm in Tennessee. You can establish a company in the USA only under a unique name with an official legal form (a representative office, LLC or FZ LLC, PLC, LLP, SP, S-Corp/С-Corp). A prerequisite is to open an account in a US bank:
- First Tennessee Bank;
- Tennessee Bank & Trust;
- Bank of Tennessee;
If you need legal advice on registering a company in America and choosing the most favorable conditions for you, contact YB Case specialists at the phone numbers listed in the “Contact Us” section.
