Tennessee Tax Credits & Incentives
Tennessee tax credits and incentives are available for companies expanding within the state or relocating to the state. The amount and duration of the incentives depends on the type of company, number of jobs created and the amount of capital invested.
Standard Job Tax Credit
A tax credit of $4,500 per job that can be used to offset a company’s franchise and excise tax liability.
Enhanced Job Tax Credit
A tax credit of $4,500 per job that is in addition to the Standard Job Tax Credit for companies that locate or expand in Tennessee counties designated as Tier 2 or Tier 3 Enhancement Counties, which are those with greater economic distress.
Super Job Tax Credit
A $5,000 per job tax credit for either (a) companies making a capital investment of $100 million or more and creating a minimum of 100 new jobs paying at least 100% of Tennessee’s average occupational wage or (b) companies establishing or expanding a regional, national or international headquarters with a capital investment of $10 million or more and creating 100 HQ jobs paying at least 150% of Tennessee’s average occupational wage.
Industrial Machinery Tax Credit
A tax credit of 1% – 10% for the purchase, third-party installation and repair of qualified industrial machinery.
Industries benefiting from Tennessee Tax Credits
- Headquarters — Administrative, research and development, planning, marketing, personnel, legal not manufacturing, distribution, wholesaling or call centers
- Manufacturing — Principle business is fabricating or processing of tangible property for resale
- Data Centers — Building or buildings, either newly constructed or remodeled, housing high-tech computer systems and related equipment
- Warehousing and Distribution — Storage or distribution of finished tangible personal property. Does not include a location where tangible personal property is processed, manufactured, sold to customers or assembled
- Call Centers — Uses telecommunications in customer service, soliciting sales, reactivating accounts, surveys or research, fundraising, collecting receivables, reservations, taking or receiving orders.
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