Incentives & Taxes

Reasons to select Tennessee’s business-friendly environment:

  • No personal income tax on wages and salaries.
  • A right-to-work state.
  • A long history of fiscal responsibility that crosses party lines.
  • Lowest state debt per capita in the country—The Tax Foundation.
  • Second lowest in the U.S. for state and local tax taxes paid per capita—The Tax Foundation.
  • Triple A-rated state, with our most recent bond sale at the lowest interest rates in recorded history.
  • Successful overhaul of our tort and workers compensation laws.

"Hickman 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."

Tennessee does not have a state income tax.

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The state sales tax is 7% for companies or people that distribute, sell, manufacture, or distribute tangible property. Hickman 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.

The property tax rate per $100 of assessed (25%) value in Hickman County is $2.8002 with Centerville adding $1.1154 for properties within the city limits.

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 (County) $2.8002
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%