Tennessee Conservative
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.
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Thanks To Recent Legislation, Beginning This Year Over 100,000 Small Businesses In Tennessee Will No Longer Be Required To File A Return And Pay Business Taxes.
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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.
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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 School Voucher Proposal.
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As Tennessee Faces A Tighter Budget In 2024, Gov. Bill Lee’s Administration Plans To Move Forward With A Significant Tax Cut And Refund For Businesses, Selling It As A “Necessary Legislative Fix” To Avoid A Legal Challenge. But Not Everyone Agrees It’s Necessary.
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A Pair Of Tennessee Democrats Are Proposing The State Drop Its Grocery Sales Tax While Increasing Business Taxes To Cover For The Expense.
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Tennessee’s 2024 Legislative Session Will Begin Tuesday. January 9th 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.
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October 31 Marked The End Of Tennessee’s Grocery Tax Holiday, But One Tennessee Lawmaker Wants To Do Away With The State’s Grocery Tax Altogether.
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Two Things Have Driven Tennessee’s Massive Rise In State Revenues Over The Past Five Years: The Ability To Collect Taxes On Internet Sales And An Enormous Growth In Franchise And Excise Tax Collections. But As The Online Sales Tax Money Becomes A Normal Part Of The State Budget And Lawmakers’ 2023 Franchise And Excise Tax Cuts Go Into Effect, The Days Of Significant Revenue Growth Are Likely In The Rearview Mirror.
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Newly Released Small Business Survey Data Shows That Those Businesses Cite The Labor Market As Their Top Concern Along With Tax Increases In A Time When They Are Already Struggling To Deal With Elevated Inflation.
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