Bill
Bill > HB1368
TN HB1368
TN HB1368AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, Part 7, relative to business tax.
summary
Introduced
02/06/2025
02/06/2025
In Committee
02/12/2025
02/12/2025
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, exempts services furnished by persons engaged in the appraisal of real estate or real property from business tax. - Amends TCA Title 67, Chapter 4, Part 7.
AI Summary
This bill amends Tennessee's business tax code to create a new exemption for real estate and real property appraisal services from business taxation. Specifically, the bill adds a new subdivision (xvii) to Section 67-4-708(3)(C) of the Tennessee Code, which lists various services that are exempt from business tax. This means that professionals who provide real estate or property appraisal services will no longer have to pay business taxes on their income from these services. The bill also updates the reference to the list of exemptions to include the new subdivision, ensuring that the legal language remains consistent. The legislation will take effect immediately upon becoming law, as determined by the Tennessee General Assembly, with the stated purpose of serving the public welfare.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025 (on 04/09/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1368&ga=114 |
| Fiscal Note - SB0826 | https://www.capitol.tn.gov/Bills/114/Fiscal/SB0826.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/HB1368.pdf |
Loading...