众议院法案1893/参议院法案2103

田纳西州对特许经营税进行了重大改革. Historically taxpayers have paid franchise tax on the greater of two bases: (1) the taxpayer’s net worth (assets minus liabilities); or (2) the net book value of property owned or used by the taxpayer in Tennessee (“alternative base”). 4月25日, 2024, the Tennessee General Assembly enacted 众议院法案1893/参议院法案2103, 这对已有87年历史的特许经营税做出了两大改变:

  • 废除替代基础. 1月1日或之后结束的纳税年度, 2024, all taxpayers will calculate franchise tax based solely on the net worth measure.
  • 以前年度已缴特许经营税的退款. Taxpayers that have paid on the alternative base in prior tax periods will be allowed to seek refunds from the Tennessee Department of Revenue.

Having been approved by both legislative bodies (69-23 by the House; 25-6 by the Senate) on April 25 after three months of legislative back-and-forth, 州长比尔·李于5月10日签署了该法案, 2024. The Tennessee Department of Revenue (“TDOR”) has begun preparing for the influx of anticipated refund claims, 退款窗口将于5月15日开放.

This is one of the most significant franchise tax law changes ever enacted. The TDOR estimates that it will result in total refunds of approximately $1.5亿美元的特许经营税由大约10万纳税人支付.  While a great opportunity for affected taxpayers to get a cash refund, there is much work to be done in a relatively short timeframe as outlined in the FAQs below.

If you think your company might be eligible for a refund or just want to find out more information, 请与您指定的LBMC专业人员联系, or reach out directly to LBMC’s State and Local Tax Group professionals, 杰伊·汉考克, jay.hancock@uyajhcpngzgwoxd.com, or 利·安·弗尼奇, leighann.vernich@uyajhcpngzgwoxd.com.

HB1893/SB2103常见问题

谁可以得到退款?

Eligible taxpayers are those who have previously paid franchise tax on the alternative base. 这项立法并不会影响净资产税基. Therefore, the refundable amount is the amount of tax actually paid on the alternative base, less the amount of franchise tax that would have been owed on the net worth base. Taxpayers who have paid on the net worth base for affected years will not have a refund opportunity.

哪些税期可以退税?

Refunds are available for tax returns that were filed on or after January 1, 2021, 涵盖在3月30日或之后结束的纳税期间, 2020. For a calendar year taxpayer, this could involve up to four separate tax returns, CY2020-2023. Short period returns and fiscal year taxpayers falling into the above parameters are also eligible for refunds.

我如何要求退款?

Taxpayers will need to amend prior year returns and file a refund claim within the window of May 15, 2024 - 11月30日, 2024. There is a specific refund claim form and procedure that taxpayers will need to follow. Taxpayers will also likely be required to submit additional proof that a refund is actually owed, 包括每年的资产负债表和债务报告表格.

如果我申请退款,我的姓名和退款金额会被公布吗?

是和不是. Due to the magnitude of anticipated refunds and need for transparency as to whom will be receiving the money, the identity of taxpayers seeking a refund will be published on the TDOR’s website for the one-month period of May 31, 2025年- 6月30日, 2025年(该州财政年度的最后一个月). 收到退款的确切金额将不会公布, but refund recipients will be identified by name and categorized by the amount of refund sought into one of three ranges: 0-$750 of refund; $750.01- $10,000; and greater than $10,000. 该信息将在2025年6月30日之后删除.

I used Jobs Tax Credits and/or Industrial Machinery Credits to offset my franchise tax liability instead of paying cash. 我还能得到退款吗?

Yes. While there is no cash refund opportunity for credits used to offset franchise tax liability on an original or previously amended return, those previously utilized credits will be reinstated as part of the refund process. These restored credits can then be used in future tax periods to offset tax liability, as long as the credits are still within Tennessee’s 25-year carryforward window.

我该如何开始?

More details will be forthcoming from TDOR as it prepares for the influx of anticipated refund claims.  While an unprecedented opportunity to recoup franchise tax paid in prior years, 行动的时间是有限的. 详情请与您指定的LBMC专业人员联系.

Content provided by LBMC State and Local Tax professional, 杰伊·汉考克 and 利·安·弗尼奇.

LBMC tax tips are provided as an informational and educational service for clients and friends of the firm. The communication is high-level and should not be considered as legal or tax advice to take any specific action. Individuals should consult with their personal tax or legal advisors before making any tax or legal-related decisions. 除了, the information and data presented are based on sources believed to be reliable, 但我们不保证其准确性或完整性. The information is current as of the date indicated and is subject to change without notice.

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