Businesses Call Northeast Tennessee Home For a Favorable Tax Environment

According to the Tax Foundation's State Business Tax Climate Index, Tennessee ranks in the Top 15 nationally as a state with a business-friendly tax environment. Compared to surrounding states, Tennessee boasts a lower tax burden than Georgia, Virginia, Kentucky, and Alabama.

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State and Local Taxes

Tennessee's tax policies are designed to enhance its business environment and benefit its residents. The state boasts no individual income tax, a 6.5% corporate tax rate, and a 7.00% state sales tax rate. Localities in Sullivan County add a maximum of 2.5% local sales tax, bringing the total to 9.5%. These policies help reduce business costs, increase employees' take-home pay, and stimulate economic spending in the region. Local property taxes include:

Sullivan County: $2.4062 per $100 of assessed value ~

  • City of Kingsport: $1.9983 ($4.4054 Combined Rate)
  • City of Bristol: $1.9863 ($4.3925 Combined Rate)
  • City of Bluff City: $1.30 ($3.7062 Combined Rate)
Taxes