William Fones Jr.

Oct 23, 2024 | jdsupra.com | Jacob Baggett |William Fones Jr.

As originally enacted, 2024 Public Chapter 950 provides that if a taxpayer paid the franchise tax based upon the minimum measure tax base found at Tenn. Code Ann. Section 67-4-2108, then the Tennessee Department of Revenue (Department) shall issue that taxpayer a refund equal to the amount of tax actually paid minus the tax otherwise due without regard to Section 67-4-2108, with several conditions.

May 2, 2024 | jdsupra.com | Jacob Baggett |William Fones Jr. |Carl Hartley

A compromise version of House Bill 1893/Senate Bill 2103 was passed by both Legislative Chambers on April 25, 2024 (the Bill).

Mar 8, 2024 | jdsupra.com | Jacob Baggett |William Fones Jr. |Carl Hartley

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 amended legislative fix to address the potential constitutional issue with the Tennessee franchise tax. The original legislation, House Bill 1893/Senate Bill 2103 as introduced, was reviewed in our January 24, 2024, publication.

Feb 13, 2024 | jdsupra.com | William Fones Jr. |Carl Hartley |Steven Wood

The Tennessee Department of Revenue (Department) recently posted certain selected informal conference summaries which provides taxpayers with insight into how the Hearing Office will address various issues arising under certain topic areas. The topics of this posting, which was released on February 9, 2024, include personal liability for taxes; successor liability; lack of records, consumer use tax; sales and use tax; business tax; franchise and excise taxes; and miscellaneous other taxes.

Jan 25, 2024 | jdsupra.com | Jacob Baggett |William Fones Jr. |Carl Hartley

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 issue with the Tennessee franchise tax. The Attorney General's Office has apparently concluded that the alternative tax base of the franchise tax violates the internal consistency doctrine under the dormant Commerce Clause.