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Form Instructions 709 Memphis Tennessee: What You Should Know
Tennessee Tax Code (TITLE 43) — TITLE 43. BUSINESS. GENERAL PROVISIONS — Chapter 10.9 The 2025 State of Tennessee General Fund appropriation has been made to the Tennessee Arts Commission. January 30, 2025 — The 2025 tax year starts and the IRS is now accepting 2025 returns. The tax rates for the individual income tax will increase to 6.5% on income exceeding a certain dollar amount. This is also effective on January 1, 2018. The individual income tax for the 2025 tax year is repealed. The individual income tax repealed for the 2025 tax year: January 1st, January 31st, 2019. This will also apply to business property, but not real property owned directly or indirectly by one person. Tennessee Income Tax for the 2025 Tax Year — TENN. CODE ANN. § 50-2-203. 2017 Tax Filing Guidelines January 31, 2025 — The 2025 (January 1st) tax year and the 2025 (January 1st) tax year have closed, as a result of the 2025 General Revenue Fund appropriation being made. You can start taking your 2025 Federal income tax return as soon as Jan 31st. This means that you will not be required to go to the IRS to have your federal taxes filed by April 15th. Note that you don't need to wait until April 15th to file. You can file your federal and state income tax return as early as Jan 31. However, if you want your 2025 refunds by the April 15th, you may need to file by May 31st. There is a deadline of April 1st to receive your 2025 refunds, so if you have not yet received yours, you will need to file your 2025 return in mid-March. The individual income tax rates increase to 7.5% on most taxable income and the corporate income tax rate is increased to 7.5% (from 9.0%).
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