{"id":194,"date":"2012-06-29T21:31:26","date_gmt":"2012-06-29T21:31:26","guid":{"rendered":"http:\/\/www.websitefix.net\/clients\/Generic\/?page_id=194"},"modified":"2019-05-31T19:33:02","modified_gmt":"2019-05-31T19:33:02","slug":"state-tax-system","status":"publish","type":"page","link":"https:\/\/www.sunraydirect.com\/Chattanooga3\/?page_id=194","title":{"rendered":"State Tax System"},"content":{"rendered":"<p><strong>TAX &amp; LICENSE \/ STATE TAX  SYSTEM<br \/>\n<\/strong><br \/>\nNewcomers to Tennessee will be pleased to learn that the state is one of the  few that does not impose a personal income tax on wages or salaries. The income  tax does apply to most income from stocks, bonds, and notes receivable. Certain  income is exempt, so consult the Department of Revenue for complete information  or answers to your specific questions:<\/p>\n<p><strong>Tennessee Department of Revenue<br \/>\n<\/strong>Taxpayer Services<br \/>\n500 Deaderick Street<br \/>\nNashville 615-253-0600<br \/>\n<a href=\"http:\/\/www.tn.gov\/revenue\">www.tn.gov\/revenue<\/a><\/p>\n<p><strong>Pensions, Social Security &amp; IRAs<br \/>\n<\/strong>Since the Tennessee income tax does not  apply to salaries and wages, items of income such as social security and  pension income are not subject to state tax. Income from stocks and bonds of  pension trusts and profit sharing trusts that are exempt from federal income  taxation are also exempt from state tax. This includes such accounts as IRAs  and distributions from IRA accounts.<\/p>\n<p><strong>Sales &amp; Use Taxes<br \/>\n<\/strong>Tennessee state sales and use taxes are  both imposed at a rate of 7 percent. Local jurisdictions tend to raise this  rate by an average of 2.25 percent. Food is taxed at 5 percent, but candy, dietary supplements and  prepared food are taxed at the increased 7 percent rate. Nearly  75 percent of the sales and use tax dollars support education. Among the other  major state taxes is petroleum taxes, corporate franchise taxes, and excise  taxes.<br \/>\n<strong><\/strong><\/p>\n<p><strong><br \/>\n<\/strong><strong>  <\/strong><strong>Property Tax<\/strong><br \/>\nLevied by the county and municipal governments, the  property tax rates apply to each $100 of assessed value of property. The  assessment ratio applied to residential property is 25 percent. Most  municipalities and some special school districts impose additional tax levies.  For answers to your questions or specific tax rates, contact:<\/p>\n<p><strong>County Tax Assessors<br \/>\n<\/strong><br \/>\n<strong>Hamilton County<\/strong><br \/>\n423-209-7300<br \/>\n<a href=\"http:\/\/assessor.hamiltontn.gov\/search.aspx\">http:\/\/assessor.hamiltontn.gov\/search.aspx<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TAX &amp; LICENSE \/ STATE TAX SYSTEM Newcomers to Tennessee will be pleased to learn that the state is one of the few that does not impose a personal income tax on wages or salaries. The income tax does apply to most income from stocks, bonds, and notes receivable. Certain income is exempt, so consult [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=\/wp\/v2\/pages\/194"}],"collection":[{"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=194"}],"version-history":[{"count":4,"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=\/wp\/v2\/pages\/194\/revisions"}],"predecessor-version":[{"id":545,"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=\/wp\/v2\/pages\/194\/revisions\/545"}],"wp:attachment":[{"href":"https:\/\/www.sunraydirect.com\/Chattanooga3\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}