ET-10 - TN Decoupled from TCJA Provisions Concerning Certain State and Local Tax Incentives and Grants through I.R.C. § 118

Tennessee decoupled from the provision of the federal Tax Cut and Jobs Act of 2017 that expands gross income to include certain state and local tax incentives and grants through Internal Revenue Code Section 118. For calculating the excise tax base, taxpayers that included these incentives and grants in federal taxable income must report them as a deduction on FAE170 Schedule J.

Reference: Tenn. Code Ann. § 67-4-2006(b)(2)(S).