Tennessee (USA)

Tennessee (USA)

* 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 2021.

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.

Read also:
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.

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