Image Credit: Canva Press Release – The Division of Consumer Affairs reminds Tennesseans to be wary of scams related to tax returns. Scammers will try various tactics to get their hands on your money, including issuing fake communications claiming to be from legitimate agencies such as the IRS. These messages can arrive in the form […]
Image: Tennessee Rep. William Lamberth, R-Portland, presents a franchise tax refund and repeal bill in the House Finance, Ways and Means Subcommittee. Image Credit: capitol.tn.gov The Center Square [By Jon Styf] – Tennessee’s franchise tax repeal and rebate appears headed to conference committee after the Senate refused to concur with House amendments Thursday. The House […]
Litigation believed likely if House version becomes law. Photo: What the heck’s in this thing? Sens. Bo Watson, R-Hixon, and John Stevens, R-Hungtindon, review Gov. Bill Lee’s budget amendment. Photo Credit: John Partipilo By Sam Stockard [Tennessee Lookout – CC BY-NC-ND 4.0] – House and Senate leaders are battling over the details of a franchise […]
Image Credit: capitol.tn.gov The Center Square [By Jon Styf] – The Tennessee House moved forward with its franchise tax repeal and refund, passing the bill 68-20 and sending it back to the Senate with a much lower fiscal note. The House version of Senate Bill 2103 would refund $713.6 million or one year of franchise […]
The House bill still differs from Senate version and could go to conference committee. Photo: Rep. John Ray Clemmons, D-Nashville, proposed an alternative tax solution that he said would solve any challenges to the state’s franchise tax by offering tax credits, without a “significant” cost. Photo Credit: John Partipilo By Sam Stockard [Tennessee Lookout – […]
Image Credit: Tennessee Department of Revenue The Center Square [By Jon Styf] – Tennessee’s Retail Accountability Program to ensure retailers are paying the state the proper amount of taxes has led to $36.6 million in additional taxes collected over the past 11 years. The program compares wholesaler and retailer numbers to tax reports sent in […]
House, Senate remain far apart on legislation. Photo: The Tennessee House of Representatives on the first day of the 2024 legislative session. Photo Credit: John Partipilo By Sam Stockard [Tennessee Lookout – CC BY-NC-ND 4.0] – The House is maintaining its distance from the Senate with a franchise tax cut that would give one-year rebates […]
For reasons that remain unclear, Hunter Biden’s attorneys have continued to attempt to have his tax evasion charges dismissed. Yesterday, a U.S. District judge in California ruled on the latest set of eight motions, dismissing all of them. The charges, involving $1.4 million in unpaid taxes while Hunter was “living an extravagant lifestyle” will move […]
Image Credit: capitol.tn.gov The Center Square [By Jon Styf] – The Tennessee Senate on Thursday passed a joint resolution to ban a statewide property tax. House Joint Resolution 81 previously passed the House 81-11 and is the first step in a process to put the property tax ban in the Tennessee Constitution. The state doesn’t […]
Earlier this month the White House published a “fact sheet” about President Biden’s latest budget plan. One of the items offered in that laundry list of proposals was this: Requires Billionaires to Pay at Least 25 Percent of Income in Taxes. Billionaires make their money in ways that are often taxed at lower rates than ordinary […]
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