According to the “Office of Revenue Analysis for the District of Columbia” (2013), the State of Tennessee has the 3rd. lowest tax burden in the U.S. (7.7%). Tennessee has no personal or corporate income tax.
Tennessee’s low cost business environment has helped create economic development activity that is unrivaled by other states. Corporate expansion and relocation makes sense in an area that enables business to keep more of their hard earned profits.
|Real Property Tax||40% of Assessed Value|
|Personal Property Tax||30% of Assessed Value|
|Town of Collierville Tax Rate||$1.78 per $100 of Assessed Value|
* Town of Collierville taxes are 91% lower when compared to the City of Memphis ($3.40) and 8.4% lower versus the City of Germantown ($1.93).
- No Tax on Finished Goods Inventory
Corporate Income Tax
- Effective State Corporate Income Tax: None
- State Excise Tax: 6.5% on Net Income from Business Conducted in TN
Personal Income Tax
- Effective State Personal Income Tax: None
- Interest and Dividends Income: 6%
Sales & Use Taxes
- TOTAL: 9.75%
- State – 7%
- Local Option – 2.75%
- Schools: 0.50% (Collierville)