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Taxes & Economy

KEEPING TENNESSEE COMPETITIVE - SETTING A CLIMATE FOR GROWTH

Through the Tennessee Chamber Tax Committee, we actively engage in a broad range of tax policy impacting business that includes sales & use, franchise & excise, business taxes and property taxes. In addition, the Tennessee Chamber also works to enhance Tennessee’s economic development programs and frequently propose legislation to improve our tax climate and enhance our ability to expanding existing business operations and recruit new business that result in tax and job growth across our state. The tax committee frequently meets and engages with the Tennessee Department of Revenue on important tax policy issues and frequently testifies before the Finance committees in the Tennessee General Assembly. Over the years the Tennessee Chamber’s tax committee has worked with state officials to approve a number of tax improvements that include sales and use exemptions for business & manufacturing, single sales factor for manufacturing (saving $130 million annually), and infrastructure and transportation improvements. Most recently in 2018 we worked with a number of Tennessee companies to ensure that our corporate income tax interest deductions were not reduced which resulted in a 10 year savings of $1.2 billion. The Tennessee Chamber also offers an annual Tax conference.

The Tennessee Chamber will work in the following areas to advance and address policy:

  • TAXES and ECONOMIC DEVELOPMENT - With Federal Tax Reform a reality, Tennessee is poised for economic growth. To ensure this growth becomes a reality we will work to ensure Tennessee business receive the full benefit of federal tax reform and protect and defend the utilization of economic development incentives. With fierce competition, Tennessee must remain competitive and work to ensure we are a welcoming state for all business and their employees.  
  • MANDATES and REGULATION – The Tennessee Chamber will work against overly-burdensome or costly government mandates, regulation or additional insurance mandates that result in increased costs. In addition, we will support efforts to enhance the health of Tennessee’s population and sustainable healthcare policies that contribute to the growth and stability of our healthcare providers and overall industry.
  • BATTLING DRUG ABUSE -Opioid abuse is a problem that negatively impacts our citizens and also challenges Tennessee’s economic growth and our workforce. The Tennessee Chamber will work to enact legislation that seeks to address these problems and offer solutions. In addition, the Tennessee Chamber will closely monitor proposals that expand the use of medicinal marijuana for unexpected consequences to our workforce.

© Tennessee Chamber of Commerce & Industry