What are examples of taxable dividends and interest?

Dividends:

  • From corporations
  • From investment trusts or mutual funds, including capital gain distributions, whether taken in stock or cash
  • From stock of banks or savings and loan associations situated outside Tennessee
  • From distribution of profits among stockholders even though not formally declared a dividend
  • From holding companies, including those holding banks or insurance companies situated inside or outside Tennessee
  • From money market funds

Interest:

  • On all bonds issued by any person, firm, church, joint stock company, business trust or corporation
  • On bonds issued by states, counties, municipalities or political subdivisions outside Tennessee
  • On bonds issued by foreign governments
  • On all mortgages or other commercial paper maturing in more than six months from date of issue
  • On written obligations that state interest is to be paid and mature in more than six months from date of issue (See Nontaxable Interest for exceptions.)
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