Tennessee has the 13th best business tax system in the country according to a ranking released today by the Small Business & Entrepreneurship Council.
Tennessee’s ranking was driven by its lack of a personal income tax, its lack of a capital gains tax, its low property taxes (2.18 percent as a percentage of income, which was seventh lowest in the nation, the SBE said), cheap diesel taxes (18.4 cents per gallon, which ranked seventh lowest), and low gasoline taxes (21.4 cents per gallon, 16th lowest).
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