This State's industrial machinery exemption for sales and use tax purposes offers a significant benefit to manufacturers in Tennessee. With a general State tax rate of 7%, together with the added local tax rates, substantial...more
On April 26, 2016, at 1:00 p.m. CST, a hearing will be conducted regarding proposed regulations filed by the Tennessee Department of Revenue (Department) with the Secretary of State on February 25, 2016. This rulemaking...more
The Tennessee Department of Revenue (the Department) is in the process of proposing a wide range of regulations addressing current state tax laws. The purpose of this project is to promulgate new regulations to clarify and...more
Manufacturing is a primary driver of our economic growth. As such, those businesses involved with fabricating, processing, converting and producing goods in today's marketplace must be ever-vigilant regarding new laws that...more
7/9/2015
/ Brownfield Grants ,
Contractors ,
Data Storage Providers ,
Department of Revenue ,
Distributors ,
Excise Tax ,
Franchise Taxes ,
Industrial Products ,
Internet ,
Manufacturers ,
Manufacturing Facilities ,
Payroll Companies ,
Sales & Use Tax ,
Software ,
Tax Credits ,
Wastewater
During the 108th General Assembly 2014 Session, the Tennessee Legislature considered several tax and related initiatives before adjourning in late April. Although the number of proposed tax and related initiatives this...more
For Tennessee excise and franchise tax purposes, a taxpayer that has business activities taxable both inside and outside this state must apportion its business net earnings and net worth using a three-factor apportionment...more
In November, the Tennessee Department of Revenue (Department) issued two notices to help clarify Franchise and Excise Tax classification of single member LLCs (SMLLCs) and series LLCs.
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