HB3689 - Tennessee - Taxes, Excise, Taxes, Exemption And Credits, Taxes, Franchise

Companion Bill SB3272. Taxes, Exemption and Credits - Authorizes, under certain circumstances, a tax credit against the employer's franchise and excise tax liability in consideration of certain newly created full-time, permanent, high-tech jobs. - Amends TCA Section 67-4-2109. Fiscal Summary for HB3689 / *SB3272Decrease State Revenue - Exceeds $100,000 Increase State Expenditures - $137,000 / One-Time Other Fiscal Impact - If future taxpayers are eligible for such tax credit as a result of this legislation, but would not have been under current law, there would be an unknown amount of foregone state revenue in future years. In addition, there could be subsequent economic growth and business activity that may aid the state growing its tax base. However, such impact is indirect and not quantifiable for the purpose of this fiscal note. Bill Summary for HB3689 [...]

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