Tennessee GOP lawmakers propose $1bn tax relief for businesses, conflict over franchise tax lawsuit protection.
Tennessee GOP lawmakers plan to offer businesses new tax help worth over $1 billion, but disagree on how much to award and what to do to protect the state from lawsuits regarding its franchise-tax law. Disputes over the franchise tax have arisen after a law firm representing businesses questioned its legality and demanded refunds. The Senate has passed a proposal similar to Gov. Bill Lee's, which includes $1.56bn in one-time refunds for up to 100,000 businesses.
March 29, 2024
6 Articles