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Tax Refund Process and Related Points Resulting from Constitutional Issue with Franchise Tax

A compromise version of House Bill 1893/Senate Bill 2103 was passed by both Legislative Chambers on April 25, 2024 (the Bill). Subject to Governor Lee signing the Bill into law (which is expected to occur), the following is...more

The 113th Tennessee General Assembly Adjourns Sine Die – Highlighted Overview

The 113th Tennessee General Assembly adjourned sine die on April 25, 2024. The session was dominated by debate over the size and scope of the $1.6 billion legislative fix to the state franchise tax that naturally dashed plans...more

Potential Tax Refunds Resulting from Constitutional Issue with Franchise Tax

Commissioner of the Tennessee Department of Revenue (Department), David Gerregano, recently testified before the Revenue Subcommittee of the Senate Finance, Ways and Means Committee, regarding the Department's proposed...more

Gov. Lee's Strategy: A New Era for Tennessee's Growth & Prosperity

Governor Bill Lee delivered his sixth State of the State address last night in a joint convention of the state House and Senate. The video preview of the speech highlighted the advancement of rural opportunity, fiscal...more

Legislation Filed Addressing Potential Constitutional Issue with Franchise Tax

On January 22, 2024, Tennessee Governor Bill Lee's administration filed House Bill 1893 in the 2024 Session of the 113th General Assembly. The apparent purpose of House Bill 1893 is to address the potential constitutional...more

Reduction in Tennessee State Budget Outlook and Tackling the Franchise Tax Problem

Lower-than-expected growth in the Tennessee economy has resulted in a slight decline in tax revenues thus far this fiscal year. Further complicating matters, state officials also recently disclosed a potential legal problem...more

A Preview of the 113th Tennessee General Assembly: Second Regular Session

The second regular session of the 113th Tennessee General Assembly will convene on Tuesday, January 9 at 12:00 p.m. Central. As members return, details of the recently announced ten-year $15 billion transportation project, as...more

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