SB4005 - Tennessee - Taxes, Taxes, Business, Taxes, Exemption And Credits

Companion Bill HB3956. Taxes, Business - Authorizes certain credits relative to certain business taxes. - Amends TCA Title 67, Chapter 4, Part 7. Fiscal Summary for *SB4005 / HB3956Decrease State Revenue - Exceeds $500,000 Increase State Expenditures1 - $36,000/One-Time Bill Summary for *SB4005 / HB3956 Under present law, the following credits, among others, may be taken by persons filing and paying the business tax: (1) Personal property taxes properly paid pursuant to present law. Personal property taxes assessed pursuant to audit and subsequently paid may be taken as a credit either on the business tax return filed for the year in which the additional personal property tax was paid or on the return covering the immediately previous year. Personal property taxes paid subsequent to the due date for business taxes in any year,[...]

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