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Tax Incentives

The Department of Revenue and the Department of Economic and Community Development (ECD) have partnered to offer a variety of incentive packages to new and expanding businesses in Tennessee. Tax credits and exemptions are available for qualifying companies of varying size, and address a variety of businesses from industry and technology to investment in economically-distressed areas in the state.

Some incentives include:

  • The Jobs Tax Credit allows qualified businesses a credit against franchise and excise taxes based on capital investment and number of jobs created.
  • Fast Track Jobs Training and Fast Track Infrastructure Development assist companies in training new employees and assisting communities in the development of public infrastructure.
  • Tier 2 and 3 Enhancement County Credits can be taken by businesses that make capital investments and create jobs in economically-distressed counties.  These credits may be taken in addition to those otherwise offered to qualified businesses. 
  • The Community Resurgence Jobs Tax Credit is an additional credit that may be claimed against franchise and excise tax when ten or more jobs are created in a high-poverty area as complied by ECD..
  • Learn more by viewing Open ECD.

The Secretary of State also provides services for new companies, including processing and filing corporation, limited liability company, limited partnership, limited liability partnership and certain general partnership documents.