HB1842 - Tennessee - Taxes, Exemption And Credits, Taxes, Sales

Companion Bill SB1711. Taxes, Exemption and Credits - Grants limited exemption from sales tax on admissions to events presented by a 501(c)(3) organization that has as its primary function the operation or administration of a performing arts facility owned by the state. - Amends TCA Title 67. Fiscal Summary for HB1842 / *SB1711Decrease State Revenues - $173,000 Decrease Local Govt. Revenues - $56,000 Bill Summary for HB1842 / *SB1711 This bill exempts from the 7 percent amusement tax, 50 percent of the sales price of admissions to educational or cultural events held in a facility owned by the state, if the event is presented by a 501(c)(3) tax-exempt organization that: (1) Has as its principal function the operation, programming and control of a performing arts facility owned by the state pursuant to a contract with the state; and [...]

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