Corporate Excise Tax

Tax Rate:  6.5% of a company's Tennessee-based net income

Corporations are eligible to receive excise tax credits equal to 1% of the following:

  • The purchase, installation and/or repair of qualified industrial machinery.
  • The purchase of qualified equipment associated with the required $500,000 capital investment by a distribution or warehouse facility.
  • The purchase of computers, computer networks, software, computer systems, telephone systems and any peripheral devices purchased to reach the "required capital investment" to qualify for the jobs tax credit.
  • Net operating loss may carry forward 15 years.
  • All capital losses may be claimed the year incurred.