Aiming to Maintain and Improve Tax Climate for Businesses
Lorem ipsum dolor sit amet consectetur
Lorem ipsum dolor sit amet consectetur. Viverra arcu eu morbi ac fermentum turpis sit molestie leo. Sit est sit cursus et id in in. Lorem ipsum dolor sit amet consectetur. Viverra arcu eu morbi ac fermentum turpis sit molestie leo. Sit est sit cursus et id in in. Viverra arcu eu morbi ac fermentum turpis sit molestie leo. Sit est sit cursus et id in in.
Lorem ipsum dolor sit amet consectetur. Viverra arcu eu morbi ac fermentum turpis sit molestie leo. Sit est sit cursus et id in in. Lorem ipsum dolor sit amet consectetur. Viverra arcu eu morbi ac fermentum turpis sit molestie leo. Sit est sit cursus et id in in. Viverra arcu eu morbi ac fermentum turpis sit molestie leo. Sit est sit cursus et id in in.
Taxes & Economic Development
The Chamber successfully advocated for the passage of legislation that caps the annual growth of property tax revenue for local governments at the rate of inflation unless approved by a voter referendum. This protection prevents sudden and unpredictable tax increases that harm businesses and homeowners alike.
Additionally, the Chamber blocked multiple attempts to impose new combined reporting requirements and other business-hostile tax policies, preserving Tennessee’s competitive position as one of the lowest-tax states in the nation for business investment and job creation.
Additionally, the Chamber blocked multiple attempts to impose new combined reporting requirements and other business-hostile tax policies, preserving Tennessee’s competitive position as one of the lowest-tax states in the nation for business investment and job creation.
Mandates & Regulations
Students need to know and understand the career paths and opportunities that are available in today’s workforce. The Tennessee Chamber will support funding efforts to establish Career K-12 focus in targeted communities to help children learn and identify career paths.
Tennessee Works Tax Act
Senate Bill No. 275/ House Bill No. 323
Governor Lee’s “Tennessee Works Tax Act” passed in the Senate on April 19, 2023, and thereafter was concurred with by the House on April 20, 2023. The Governor is expected to sign this legislation (the “Act”) into law.
The Act makes significant changes with respect to Tennessee’s business tax, franchise and excise taxes, and sales and use taxes. The following is an overview of the more significant changes as to those taxes based upon the last readily-available text from the Legislature. Unless otherwise referenced, these changes are effective upon the Act becoming law.
