Image Credit: Canva The Center Square [By Jon Styf] – An estimated $1.2 billion franchise tax refund to businesses is scheduled to be voted on for the first time in the Tennessee Legislature next week after the Senate Finance Ways and Means Subcommittee heard details of the proposal. The refund could cost the state up […]
Image Credit: Canva Tennessee Department of Revenue Press Release – It’s almost time to file your 2023 business tax return. Thanks to recent legislation, beginning this year over 100,000 small businesses will no longer be required to file a return and pay this tax. The Tennessee Works Tax Act eliminated the annual business tax filing […]
Image Credit: Gov. Bill Lee / Facebook The Tennessee Conservative Staff – State officials are refusing to provide information regarding Governor Bill Lee’s decision to include a $1.6 billion tax cut and refund for businesses. According to Finance Commissioner Jim Bryson, Governor Lee included the tax refunds, plus an additional $400 million recurring franchise tax […]
Image Credit: John Partipilo By Adam Friedman [Tennessee Lookout -CC BY-NC-ND 4.0] – Unlike in previous years, when Tennessee’s coffers were flush with cash, the state budget will likely play a much more central role in this year’s legislative session as Gov. Bill Lee proposes spending down cash reserves for more business tax cuts and his […]
Could a tax credit system solve the franchise taxes commerce clause debate while limiting the amount of revenue the state loses? Photo: Gov. Bill Lee, front, flanked by House Speaker Cameron Sexton, left, and Lt. Gov. Randy McNally, right. Photo Credit: John Partipilo By Adam Friedman [Tennessee Lookout -CC BY-NC-ND 4.0] – As Tennessee faces a […]
Image Credit: tn.gov The Center Square [By Jon Styf] – A pair of Tennessee Democrats are proposing the state drop its grocery sales tax while increasing business taxes to cover for the expense. Tennessee Rep. Aftyn Behn, D-Nashville, and Sen. Charlane Oliver, D-Nashville, plan to propose a bill that will end the 4% state grocery […]
Image Credit: Antony-22 / CC The Center Square [By Jon Styf] – Tennessee’s 2024 legislative session will begin Tuesday with the Republican party looking to pass a budget, statewide K-12 education savings accounts, business tax cuts, enhanced school safety measures, certificate-of-need reform and health care funding. On Monday, House leadership discussed rules for session including […]
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