Tennessee compliance at a glance
- Sales tax: 7.00% state rate. State 7%; combined commonly 9.25-9.75%.
- Late fees: Up to 1.5% per month. (Tenn. Code 搂47-14-103) Formula rate equals 4% over Federal Reserve discount rate; contract rates capped.
- Written contracts: Required for jobs over $25,000.
- Prompt-pay law: Tennessee Prompt Pay Act (Tenn. Code 搂66-34-101 et seq.). Subs paid within 30 days of GC receiving payment; 1.5% per month interest if late.
Tennessee metros
- Nashville2,102,573 residents 路 0% combined tax
- Memphis1,335,674 residents 路 0% combined tax
- Knoxville946,264 residents 路 0% combined tax
- Chattanooga580,971 residents 路 0% combined tax
- Clarksville340,495 residents 路 0% combined tax
- Kingsport313,025 residents 路 0% combined tax
- Johnson City213,198 residents 路 0% combined tax
- Jackson181,826 residents 路 0% combined tax
- Cleveland129,612 residents 路 0% combined tax
- Morristown124,054 residents 路 0% combined tax