Incentives & Taxes
Local Incentives
Reasons to select GIBSON COUNTY’S business-friendly environment:
- Manufactures may received partial real and/or personal property tax relief based on new job creation, wage levels, capital investment, benefits and company history. This incentive is available to both new and existing industries.
- Supportive local governments – county commission and city councils
- Excellent school systems with strong Career Technical Education programs
- Close proximity to community colleges with Career Technical Education programs
- Employee recruitment and screening services
Gibson County, Tennessee, is more than our great weather and beautiful natural environment; we combine a skilled workforce, strategic location in the Southeast US, competitive business costs to fuel our business ecosystem.
Income Tax
Tennessee does not have a state income tax.
For more information please visit tnecd.com.
Sales Tax
The state sales tax is 7% for companies or people that distribute, sell, manufacture, or distribute tangible property. Gibson County adds a sales tax of 2.75%
Sales tax is not levied on:
- Raw material for processing
- Purchases, installation and repairs of qualified industrial machinery
- Machinery and equipment used for the production of electricity using clean energy technology
- Material handling systems for qualified warehouse and distribution facilities purchased during a three-year investment period
- Certified pollution control equipment for manufacturers
- Qualified industrial supplies
- Computer equipment, peripheral devices and software purchased for a qualified data center with an investment of $250 million
- Containers, packaging and wrapping materials
- Items purchased for resale
There is reduced sales tax rates for manufacturers’ use of energy fuel and water (1.5% vs. 7%) and additional exemptions or credits may be available.
Property Tax
Property tax is calculated per $100 of assessed value. Assessed value is calculated by taking the appraised value multiplied by the assessment ratio which is dependent on the type of property.
In addition to the county tax rate, each municipality has its own rate, and each Special School District has its own rate. The county, municipality, and special school district rates are added together to come up with the total property tax rate per $100 of assessed value.
There is no tax on:
- Goods-in-transit (free port)
- Finished goods inventories in hands of manufacturers
- Goods-in-progress
- Inventories of merchandise for sale
| Property Tax | |
| Property Tax Rate (Gibson County) | $1.0322 |
| State Property Tax | None |
| Assessment Ratio: Residential Property | 25% |
| Assessment Ratio: Farm Property | 25% |
| Assessment Ratio: Commercial/Industrial Property | 40% |
| Assessment Ratio: Public Utility Property | 55% |
| Assessment Ratio: Business Personal Property | 30% |
State Incentives
Tennessee Incentives For Growth
- Job Tax Credits to offset annual franchise and excise tax liability. Based on meeting minimum job creation and capital investment thresholds.
- Infrastructure and Training grants
- Employee recruitment and screening services
- Manufacturers may be eligible for reduced sales tax on water, electric, and gas utility bills.
- No personal income tax on wages and salaries.
- Tennessee is a right-to-work state.
- Lowest state debt per capita in the country—The Tax Foundation
Experience incentives designed specifically with your business in mind. Lower operating cost, reduce capital, outlay and minimize risk: We know what it takes to earn your business. In Tennessee, we are fostering economic growth with flexible incentives and grants geared toward your investment.
Tennesee Valley Authority
Tennessee Incentives For Growth
Experience incentives designed specifically with your business in mind. Lower operating cost, reduce capital, outlay and minimize risk: We know what it takes to earn your business. In Tennessee, we are fostering economic growth with flexible incentives and grants geared toward your investment.
Experience incentives designed specifically with your business in mind. Lower operating cost, reduce capital, outlay and minimize risk: We know what it takes to earn your business. In Tennessee, we are fostering economic growth with flexible incentives and grants geared toward your investment.