Tennessee Governor Signs Historic $400 Million Tax Cut
The Act includes a $273 million three–month grocery tax holiday meant to provide direct relief to Tennessee families and more than $150 million in annual small business tax relief. Governor Bill Lee signed the Tennessee Works Tax Act, the largest tax cut in the state’s history The Act also simplifies tax administration, encourages businesses to invest in the state, and aligns the state with other states adopting “single sales factor“ apportionment…