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: Canva The Tennessee Conservative [By Adelia Kirchner] – A resolution that proposes an amendment to the Tennessee Constitution that would prohibit a statewide property tax was recommended for concurrence by a Senate committee last week. House Joint Resolution 81 (HJR0081) was brought by Rep. Tandy Darby (R-Greenfield-District 76) back in January of 2023. […]
Image Credit: Canva The Tennessee Conservative Staff – The Senate State and Local Government Committee will consider a bill that would help disabled veterans in Tennessee by providing property tax relief. Senate Bill 1725 (SB1725), sponsored by Senator Rusty Crowe (R-Johnson City-District 3), “expands eligibility for property tax relief to a veteran who acquired a […]
Image Credit: Canva The Center Square [By Jon Styf] – Tennessee Gov. Bill Lee did not include a grocery tax holiday in this year’s budget proposal, but a proposed bill would begin allowing counties and municipalities to cut or remove grocery tax. Senate Bill 2520 was set to be heard Tuesday in the Senate Finance, […]
Photo: Fedex owns over $800 million worth of property, according to Shelby County bond records. Photo Credit: John Partipillo By Adam Friedman [Tennessee Lookout -CC BY-NC-ND 4.0] – Nissan, FedEx, Brown-Forman (the owner of Jack Daniels) and Eastman Chemical each control over $500 million worth of assets in Tennessee, making them the most likely beneficiaries of […]
Image Credit: Canva The Center Square [By Jon Styf] – Tennessee’s January tax collections were $98 million less than budgeted but up $15.8 million from 2023. That puts the state $378 million behind its budgeted total for the first half of the fiscal year and $104 million short of collections from the first six months […]
Showdown brewing over county property tax caps. Photo: Economist Art Laffer. (Photo: Submitted) By Sam Stockard [Tennessee Lookout -CC BY-NC-ND 4.0] – A battle is brewing in the General Assembly over caps on county property taxes. Economist Art Laffer, an advisor to multiple Republican presidents, is pushing lawmakers to prevent large one-time county property taxes […]
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: Gov. Bill Lee / Facebook The Center Square [By Jon Styf] – Tennessee Gov. Bill Lee’s budget proposal includes a $410 million annual tax cut that includes $1.2 billion in one-time costs. Overall, the budget proposal is for $52.6 billion with $25.4 billion from the state and $19.8 billion from federal funds. The […]
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