Tennessee Code 67-8-106 – Tax rates
[Not applicable to any transfer by gift made on or after January 1, 2012, see 67-8-118.]
CLASS A
1.4 percent on amounts from $10,000 to $25,000;
2 percent on the next $25,000 or part thereof;
4 percent on the next $50,000 or part thereof;
5.5 percent on the next $200,000 or part thereof;
6.5 percent on the next $200,000 or part thereof;
9.5 percent on the excess over $500,000.
CLASS B
6.5 percent on amounts from $5,000 to $50,000;
9.5 percent on the next $50,000 or part thereof;
12 percent on the next $50,000 or part thereof;
13.5 percent on the next $50,000 or part thereof;
16 percent on the next $50,000 or part thereof;
20 percent on the excess over $250,000.
Terms Used In Tennessee Code 67-8-106
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
CLASS A
5.5 percent on the amount of net taxable gifts up to $40,000;
6.5 percent on the next $200,000 or part thereof;
7.5 percent on the next $200,000 or part thereof;
9.5 percent on the excess over $440,000.
CLASS B
6.5 percent on the amount of net taxable gifts up to $50,000;
9.5 percent on the next $50,000 or part thereof;
12 percent on the next $50,000 or part thereof;
13.5 percent on the next $50,000 or part thereof;
16 percent on the excess over $200,000.