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Though Tennessee has a higher than average corporate income tax rate, the
state ranks 12, near the top, on the Tax Foundation's corporate income tax
ranking. By incorporating in Tennessee you can avoid franchise tax and personal
income tax except on dividends and interest. If you incorporate in Nevada
you avoid all of these taxes. Nevada doesn't charge corporate or personal
income tax. We've compiled the list below to help you decide to make your
business a Nevada Corporation or LLC or a Tennessee Corporation:
| |
Nevada |
Tennessee |
|
State Corporate Income Tax ? |
None |
6.50% |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
12 |
Personal Income Tax ? |
None |
Div. and Int. Only |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
8 |
Franchise Tax ? |
|
|
Tax on corp shares ? |
|
|
Gift Tax ? |
|
|
Unitary Tax ? |
|
|
Estate Tax ? |
|
|
Statutory Indemnification of Officers, Directors & Employees ? |
|
|
Charging Order Protection for Corporation ? |
|
|
Charging Order is Creditor's Sole Remedy for LLC or Corporation ? |
|
|
Highest Standard of Corporate Veil Protection ? |
|
|
Series LLC Allowed ? |
|
|
Business Court* |
|
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Glossary of terms
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