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House, Senate not finding common ground on franchise tax cut

Posted on AllSides March 22nd, 2024
From The Center

NASHVILLE, Tenn. (WKRN) — Tennessee’s franchise tax on businesses is based on their property in the state. But a new bill from Governor Bill Lee‘s office is set to do two things – refund businesses back three years who have paid a franchise tax and then also cut the tax moving forward. It’s over a billion dollars for the refund and about $400 million each year after that. “This is the right solution for the problem that was presented to us as a state,” Gov. Bill Lee (R-Tennessee) said. “This...

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https://wkrn.com/news/tennessee-politics/house-senate-not-finding-common-ground-on-franchise-tax-cut

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