HB3100 - Tennessee: Taxes, Taxes, Excise, Taxes, Franchise

Companion Bill SB2659. Taxes - Provides a tax credit for small business employers that provide health benefits to employees. - Amends TCA Title 67. Fiscal Summary for HB3100 / *SB2659Decrease State Revenue - Exceeds $15,750,000 Increase State Expenditures - $125,000/One-Time Bill Summary for HB3100 / *SB2659 This bill establishes a tax credit against both the franchise and excise taxes for any small business that employs no more than 25 eligible employees throughout the tax year and provides health benefits for all of the employer's employees. An "eligible employee" is an employee who works at least 30 hours per work week on a permanent basis. The employer is considered to be providing health benefits if: (1) The employer pays at least 50 percent of the premiums for health care coverage for the employee and employee's dependants [...]

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