Implementing Sector: | State |
Category: | Financial Incentive |
State: | Tennessee |
Incentive Type: | Industry Recruitment/Support |
Web Site: | https://tnecd.com/advantages/business-climate/ |
Administrator: | Tennessee Department of Revenue |
Start Date: | 11/01/2009 |
Expiration Date: | 01/01/2029 |
Incentive Amount: | The incentive is based on how much less the manufacturer pays for electricity than the maximum certified rate. |
Maximum Incentive: | Green Energy Tax Credit: $1,500,000/tax year for $250 million in capital investment. |
Terms: | The investment must equal at least $250 million within three years. The tax credit is applied against the Franchise and Excise Tax. |
Name: | Tenn. Code § 67-4-2109 |
Tennessee provides tax credits to industries in the green energy supply chain that invest more than $250 million into the state. The Department of Revenue, Department of Economic and Community Development as well as the Department of Environment and Conservation are authorized to certify “green energy supply chain manufacturers” as eligible for the Green Energy Tax Credit. The $1.5 million maximum credit is applied to a company's Franchise and Excise Tax liability.
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