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TN
Tennessee Job Tax Credit
Provides franchise and excise tax credits to qualifying Tennessee businesses that invest and create new jobs.
About this program
The Tennessee Job Tax Credit provides franchise and excise tax credits to qualified business enterprises that make required capital investments and create qualifying new jobs. The standard credit is $4,500 for each qualified job, with minimum job thresholds varying by enhancement county tier and possible additional annual credits for qualifying projects.
Eligibility
Eligible applicants are qualified business enterprises that invest in Tennessee, create the required number of qualified jobs, and receive tentative approval from the Department of Revenue before claiming credits.
Requirements
- Taxpayer must be a qualified business enterprise.
- Taxpayer must make required capital investment of at least $500,000, except higher thresholds apply to certain industries.
- Project must create the required number of qualified jobs based on county enhancement tier.