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Tennesee will give $1.6B franchise tax refund, post names of recipients

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(The Center Square) – A conference committee on the repeal and rebate of Tennessee’s business franchise tax agreed on a full three-year refund of the tax worth $1.6 billion and a level of transparency on who will receive those rebates.

The committee agreed the Department of Economic and Community Development would post the names of those receiving a rebate for a 30-day period. The conference committee approved its agreement with an 8-2 vote.

Businesses will have between May 15 and Nov. 30 to apply for the three-year rebate and then the information will be posted from May 31, 2025 to June 30, 2025 in four categories of businesses that receive $10,000 or more of rebate, those that receive between $751 and $10,000, those who receive $750 or less and those that still have rebates pending.

House Majority Leader William Lamberth, R-Portland, said this would involve posting a limited amount of private business tax information “for the first time and the last time.” Lamberth was clear this was not a precedent about posting private business tax information moving forward.

Lamberth called the three-year rebate “quite a concession on our side” after the House version of the bill proposed one year of rebate worth $713.6 million.

Companies that receive the rebate will be required to sign a waiver to

Sen. Bo Watson, R-Hixson, said the publication of business names receive the rebate was a large concession from Senate leadership.

The conference committee report must now be approved by the full House and full Senate before heading to the desk of Gov. Bill Lee.