Tax Incentives Reporting
By January 1 of each year, the Department of Revenue prepares a report of tax credits. The report includes tax credits claimed under Tenn. Code Ann. §§ 67-4-2009 and 67-4-2109 for tax periods ending during the previous fiscal year and contains the following: name of tax credit, number of taxpayers claiming the tax credit during the fiscal year, number of jobs taxpayer reported as created during the fiscal year, if applicable, nature of business of taxpayers claiming job tax credits. For additional informational purposes, the amount of potentially available tax credit carried forward from a prior tax year is also provided.
- What information is included in the tax credit reports?
- Do the reports include all tax credits that may be claimed for the period covered?
- Why are some totals hidden in the report?
- Does the report include the number of jobs created for all the tax credits?
- What is the credit carryover for prior years?
- Does the state pay out the credits listed in the report?
- Do you add the credit carryover to the credit claimed to get the total credits used for the fiscal year?
- Where can I find more information on Tennessee tax credits?