Tennessee Bill Would Allow Local Governments To Cut, End Grocery Tax

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.

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Tennessee’s Budget Sees Impact Of Tax Cuts And No New Untapped Revenue Sources

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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Tennessee Legislature Passes Lee’s $412M Tax Cut, Grocery Tax Holiday

Tennessee’s Legislature Passed A Bill Promoted By Gov. Bill Lee On What Was Budgeted To Be $412 Million In Tax Cuts As The Session Completed Late Last Week. The Largest Factor In The Bill Was $272.8 Million In A Three-Month Food And Food Ingredients Tax Holiday From August Through October Across The State, A Proposal That Holds Locals Harmless By Sending Other State Tax Funds Their Way To Cover The Local Portion Of The Food Tax.

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Critic-Derided Tax Holidays For School Supplies And Groceries Approaching In Tennessee

Starting Friday, Tennessee Will Begin Its Annual Sales Tax Holiday For School Supplies, Clothing And Computers That Will Run Through Midnight Sunday. The Grocery Tax Holiday Was Touted As A Break For Tennessee Residents In The Budget By Republicans In The General Assembly And Lee, But Not All Agree That It Is Good Policy.

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Lee Faces Deadline To Sign State Budget, HOPE Scholarship Expansion Bills

Tennessee Gov. Bill Lee Will Decide On Whether Or Not To Sign The State Budget Appropriations Bill, A Bill Expanding The State’s HOPE Scholarship Program And A Bill That Will Establish A One-Year Moratorium On State Personal Vehicle And Motorcycle Registration Fees This Week.

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