Aiming to Maintain and Improve Tax Climate for Businesses
advancing and addressing policy
Through sustained advocacy and close collaboration with policymakers, Tennessee’s tax environment has become one of the most competitive in the nation. The Tennessee Chamber has played a leading role in advancing significant tax reforms that deliver meaningful savings for businesses across the state. These efforts reflect a continued commitment to a pro-growth, business-friendly tax structure that supports investment, job creation, and long-term economic success.
The Chamber continues to work with state leaders to modernize Tennessee’s tax code and strengthen the state’s competitive position for employers of all sizes.
Maximizing Capital Investment Through Bonus Depreciation
The Tennessee Chamber advocates aligning the state’s bonus depreciation policy with the federal standard of 100% expensing. This reform allows businesses to immediately deduct the full cost of qualifying investments—such as machinery, equipment, and technology—instead of depreciating those costs over several years.
By adopting this approach, Tennessee can attract greater capital investment, drive manufacturing growth, and foster innovation across industries. It also simplifies compliance for businesses operating in multiple states, creating a more predictable and business-friendly environment that encourages long-term economic expansion.
Practical and Fair Property Tax Policy
Property taxes are a critical funding source for local governments, but rising rates have raised concerns for businesses and community leaders alike. The Chamber engages in discussions around property tax policy to advocate for solutions that reduce complexity, enhance fairness, and balance the needs of local governments with the competitiveness of Tennessee communities.
Practical, fiscally responsible property tax policy ensures that communities can fund essential services while remaining attractive for new and expanding businesses, supporting both economic growth and local prosperity.
