Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Tennessee allows manufacturers to claim a tax credit of 1–10% of the purchase price of industrial machinery used directly in manufacturing. New or expanding manufacturers may claim the enhanced rate over the first three years of operation.
Do I qualify?
Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Must be a Tennessee manufacturer
2.Machinery must be used directly in production
3.Credit rate: 1% standard; up to 10% for new manufacturers
4.Applied against Tennessee franchise and excise tax
5.Excess credit carried forward up to 15 years
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NCDOR · North Carolina
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