HB4133 - Tennessee: Taxes, Excise, Taxes, Exemption And Credits, Taxes, Franchise

Companion Bill SB2551. Taxes, Exemption and Credits - Allows a job tax credit against franchise and excise taxes in an amount equal to 25 percent of the portion of the employer/taxpayer's Federal Work Opportunity tax credit that is directly attributable to employment of ex-felons during the tax year. - Amends TCA Title 67, Chapter 4, Part 20 and Title 67, Chapter 4, Part 21. Fiscal Summary for HB4133 / *SB2551Decrease State Revenue - $234,400 Bill Summary for HB4133 / *SB2551 This bill allows an employer a job tax credit against excise and franchise taxes in an amount equal to 25 percent of the portion of the employer's federal Work Opportunity Tax Credit (WOTC) that is directly attributable to the employment of ex-felons during the tax year. Generally, under the federal WOTC, employers get tax credit for certain new hires, including a member [...]

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