Sonja Castaldi, CPA, MST, Senior Director, recently authored a piece on the Tennessee Franchise Tax Refund Opportunity for Taxpayers Owning Real Estate. This proposed legislation will create a refund opportunity for taxpayers who paid franchise taxes based on the book value of their real and tangible personal property owned or used in the state. Read more here: https://bit.ly/4aK0bYh. #TaxRefund #RealEstate #ExpertsWithImpact #FTIConsulting
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Ryan, is an award-winning global tax services and software provider and the largest Firm in the world dedicated exclusively to business taxes.
“Taxpayers submitting refund claims pursuant to this legislation should carefully examine their net worth calculation and determine whether separate adjustments may be needed. In addition, taxpayers utilizing tax credits to offset some or all of their franchise tax liability should carefully examine the legislation’s impact, including the need to submit a claim even if no refund is due to credit utilization.” Message me to discuss how Ryan can help you evaluate the potential impacts.
Tennessee Legislators Pass Franchise Tax Overhaul Bill
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Strategy & Growth | Partnerships | 179D, 45L, Cost Segregation, R&D, Grants, SALT : CREW Boston Member
Tennessee’s Fiscal Review Committee has stated that it anticipates over $1.5 BILLION of refunds to go out to over 100,000 taxpayers. Legislation updates regarding franchise tax that could impact you and your clients in the article below! For more information reach out to myself or Brian J. Ess, J.D. #tax #franchise #taxcode #SALT
Big changes ahead for Tennessee businesses! 📈 Learn all about the recent franchise tax overhaul and how it's reshaping the state's tax landscape in our most recent article. From simplifying calculations to potential tax savings, find out what this means for your business. https://lnkd.in/eR2JGxEA If you want to see how much of a refund you can get, schedule a call with our experts! https://lnkd.in/eWZk_gUT
Tennessee's Franchise Tax Overhaul | Leyton
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Resolving your most challenging tax issues. At Milikowsky Tax Law, we defend companies under audit by IRS, EDD, and California State tax agencies.
When it comes to taxes, California's unique regulations can be a maze. Learn how California's Franchise Tax Board (FTB) comes into play and why it's crucial to stay ahead.
If you're a California resident or business owner, you need to know about the potential tax challenges and complexities. Check out our blog to understand the role of the California Franchise Tax Board and how it affects your tax obligations. https://lnkd.in/ddPw8HdR #CaliforniaTaxLaws #TaxObligations #FranchiseTaxBoard
Article Review: Tougher than IRS? California Franchise Tax Board - Milikowsky Tax Law
https://www.caltaxadviser.com
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LBMC Shareholder and State and Local Tax Leader Jay Hancock and Senior Manager Leigh Ann Vernich, CPA opine as the Franchise Tax Bill moves forward and share what that would mean for your business. As of April 25, 2024, the Tennessee General Assembly has enacted pivotal changes to the state's franchise tax system, impacting how businesses will calculate their taxes moving forward. 🔹Elimination of the Alternative Base: Starting from tax years ending on or after January 1, 2024, franchise taxes will only be calculated based on the net worth measure. This simplifies the tax calculation process for all businesses. 🔹Refund Opportunities: Businesses that previously paid franchise taxes based on the alternative base may now be eligible to seek refunds for those payments from the Tennessee Department of Revenue. These updates represent a significant shift in Tennessee's tax policy, aiming to streamline the process and potentially reduce tax liabilities for many businesses. Stay informed and consider consulting with your tax advisors to understand how these changes may benefit your business. #TaxUpdate #TennesseeBusiness #FranchiseTax #LBMC
Tennessee Enacts Major Franchise Tax Changes | LBMC
https://www.lbmc.com
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LBMC Shareholder and State and Local Tax Leader Jay Hancock and Senior Manager Leigh Ann Vernich, CPA opine as the Franchise Tax Bill moves forward and share what that would mean for your business. As of April 25, 2024, the Tennessee General Assembly has enacted pivotal changes to the state's franchise tax system, impacting how businesses will calculate their taxes moving forward. 🔹Elimination of the Alternative Base: Starting from tax years ending on or after January 1, 2024, franchise taxes will only be calculated based on the net worth measure. This simplifies the tax calculation process for all businesses. 🔹Refund Opportunities: Businesses that previously paid franchise taxes based on the alternative base may now be eligible to seek refunds for those payments from the Tennessee Department of Revenue. These updates represent a significant shift in Tennessee's tax policy, aiming to streamline the process and potentially reduce tax liabilities for many businesses. Stay informed and consider consulting with your tax advisors to understand how these changes may benefit your business. #TaxUpdate #TennesseeBusiness #FranchiseTax #LBMC
Tennessee Enacts Major Franchise Tax Changes | LBMC
https://www.lbmc.com
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LBMC Shareholder and State and Local Tax Leader Jay Hancock and Senior Manager Leigh Ann Vernich, CPA opine as the Franchise Tax Bill moves forward and share what that would mean for your business. As of April 25, 2024, the Tennessee General Assembly has enacted pivotal changes to the state's franchise tax system, impacting how businesses will calculate their taxes moving forward. 🔹Elimination of the Alternative Base: Starting from tax years ending on or after January 1, 2024, franchise taxes will only be calculated based on the net worth measure. This simplifies the tax calculation process for all businesses. 🔹Refund Opportunities: Businesses that previously paid franchise taxes based on the alternative base may now be eligible to seek refunds for those payments from the Tennessee Department of Revenue. These updates represent a significant shift in Tennessee's tax policy, aiming to streamline the process and potentially reduce tax liabilities for many businesses. Stay informed and consider consulting with your tax advisors to understand how these changes may benefit your business. #TaxUpdate #TennesseeBusiness #FranchiseTax #LBMC
Tennessee Enacts Major Franchise Tax Changes | LBMC
https://www.lbmc.com
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LBMC Shareholder and State and Local Tax Leader Jay Hancock and Senior Manager Leigh Ann Vernich, CPA opine as the Franchise Tax Bill moves forward and share what that would mean for your business. As of April 25, 2024, the Tennessee General Assembly has enacted pivotal changes to the state's franchise tax system, impacting how businesses will calculate their taxes moving forward. 🔹Elimination of the Alternative Base: Starting from tax years ending on or after January 1, 2024, franchise taxes will only be calculated based on the net worth measure. This simplifies the tax calculation process for all businesses. 🔹Refund Opportunities: Businesses that previously paid franchise taxes based on the alternative base may now be eligible to seek refunds for those payments from the Tennessee Department of Revenue. These updates represent a significant shift in Tennessee's tax policy, aiming to streamline the process and potentially reduce tax liabilities for many businesses. Stay informed and consider consulting with your tax advisors to understand how these changes may benefit your business. #TaxUpdate #TennesseeBusiness #FranchiseTax #LBMC
Tennessee Enacts Major Franchise Tax Changes | LBMC
https://www.lbmc.com
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LBMC Shareholder and State and Local Tax Leader Jay Hancock and Senior Manager Leigh Ann Vernich, CPA opine as the Franchise Tax Bill moves forward and share what that would mean for your business. As of April 25, 2024, the Tennessee General Assembly has enacted pivotal changes to the state's franchise tax system, impacting how businesses will calculate their taxes moving forward. 🔹Elimination of the Alternative Base: Starting from tax years ending on or after January 1, 2024, franchise taxes will only be calculated based on the net worth measure. This simplifies the tax calculation process for all businesses. 🔹Refund Opportunities: Businesses that previously paid franchise taxes based on the alternative base may now be eligible to seek refunds for those payments from the Tennessee Department of Revenue. These updates represent a significant shift in Tennessee's tax policy, aiming to streamline the process and potentially reduce tax liabilities for many businesses. Stay informed and consider consulting with your tax advisors to understand how these changes may benefit your business. #TaxUpdate #TennesseeBusiness #FranchiseTax #LBMC
Tennessee Enacts Major Franchise Tax Changes | LBMC
https://www.lbmc.com
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Experienced Health Care Operator & Physician Practice Management Executive
LBMC Shareholder and State and Local Tax Leader Jay Hancock and Senior Manager Leigh Ann Vernich, CPA opine as the Franchise Tax Bill moves forward and share what that would mean for your business. As of April 25, 2024, the Tennessee General Assembly has enacted pivotal changes to the state's franchise tax system, impacting how businesses will calculate their taxes moving forward. 🔹Elimination of the Alternative Base: Starting from tax years ending on or after January 1, 2024, franchise taxes will only be calculated based on the net worth measure. This simplifies the tax calculation process for all businesses. 🔹Refund Opportunities: Businesses that previously paid franchise taxes based on the alternative base may now be eligible to seek refunds for those payments from the Tennessee Department of Revenue. These updates represent a significant shift in Tennessee's tax policy, aiming to streamline the process and potentially reduce tax liabilities for many businesses. Stay informed and consider consulting with your tax advisors to understand how these changes may benefit your business. #TaxUpdate #TennesseeBusiness #FranchiseTax #LBMC
Tennessee Enacts Major Franchise Tax Changes | LBMC
https://www.lbmc.com
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LBMC Shareholder and State and Local Tax Leader Jay Hancock and Senior Manager Leigh Ann Vernich, CPA opine as the Franchise Tax Bill moves forward and share what that would mean for your business. As of April 25, 2024, the Tennessee General Assembly has enacted pivotal changes to the state's franchise tax system, impacting how businesses will calculate their taxes moving forward. 🔹Elimination of the Alternative Base: Starting from tax years ending on or after January 1, 2024, franchise taxes will only be calculated based on the net worth measure. This simplifies the tax calculation process for all businesses. 🔹Refund Opportunities: Businesses that previously paid franchise taxes based on the alternative base may now be eligible to seek refunds for those payments from the Tennessee Department of Revenue. These updates represent a significant shift in Tennessee's tax policy, aiming to streamline the process and potentially reduce tax liabilities for many businesses. Stay informed and consider consulting with your tax advisors to understand how these changes may benefit your business. #TaxUpdate #TennesseeBusiness #FranchiseTax #LBMC
Tennessee Enacts Major Franchise Tax Changes | LBMC
https://www.lbmc.com
