| |
Taxes
Local Taxes |
| |
Kingsport City |
Sullivan County |
| Property Tax (rate per $100 value) |
$2.26 |
$2.52 |
Ratio of Assessment
Residential
Industrial
Personal
(Equipment) |
25%
40%
30% |
25%
40%
30% |
Inventory Tax (raw materials only)
School Tax
Sales Tax
Bonded
Debt
General Fund
Enterprise
Fund
|
|
|
None
2.5%
$61,455,166
$60,160,770
|
None
2.25%
$43,320,000
|
| Assessed Valuation |
$1,083,709,267 |
$2,508,798,348 |
| State Taxes |
| Sales Tax |
7% (6% for food/food ingredients for human consumption) |
Income Tax
Personal on Wages
Personal
on Interest/Dividends
| None
6% |
| Corporate Excise |
6.5% of net earnings |
| Franchise Tax |
25¢ per $100 of capital property |
Unemployment Tax
New Employers
| 2.7% of first $7,000 |
|
There are no state and local taxes on wages earned. At a ranking
of 49th, the tax burden per capita in Tennessee is among the lowest
in the USA.
For additional information on state taxes, visit
Tennessee Department Revenue |
|
|
