For tax years beginning on or after January 1, 2017, manufacturers may elect to apportion net earnings and net worth to Tennessee based upon a single sales factor. To ensure the availability of this election, the State Funding Board must make a certification as required by Tenn. Code Ann. § 9-9-104(b). On May 11, 2017, and the years thereafter, the State Funding Board met and approved a “Resolution Making Findings for Decrease in Special Revenues,” thereby making the required certification needed for any decrease in franchise taxes for fiscal years beginning 2017-18 through current.
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