Category: Tax Insights

  • The Single Sales Factor Phase-In in Tennessee

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    by

    Zhoudi Tang, CPA
    in

    Previously, Tennessee used a fraction-based apportionment method for its excise tax. The numerator of the fraction included the property factor, the payroll factor, and three times the receipts factor. However, with the implementation of H.B. 323, Tennessee is phasing in a single sales factor approach. Here are the key changes: Starting from tax years ending…