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How did an interest in healthcare policy lead Robert Platt to a career in the law? Find out more>

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Envision to Sell to KKR for $9.9 Billion

We represented Envision Healthcare Corporation (NYSE: EVHC) in its definitive agreement to sell to KKR in an all-cash transaction for $9.9 billion, including debt. KKR will pay $46 per Envision share in cash to buy the company, marking a 32 percent premium to the company's volume-weighted average share price from November 1, when Envision announced it was considering its options. The transaction is expected to close the fourth quarter of 2018. Read more


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Six Things to Know Before Buying a Physician Practice spotlight

Dermatology, ophthalmology, radiology, urology…the list goes on. Yet, in any physician practice management transaction, there are six key considerations that apply and, if not carefully managed, can derail a transaction. Download the 6 Things to Know Before Buying a Physician Practice to keep your physician practice management transactions on track.

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Steve Jasper and Michael Cottone Provide Insight on Tennessee IMPROVE Act

State Tax Notes

Media Mentions

May 1, 2017

Bass, Berry & Sims attorneys Steve Jasper and Michael Cottone provided insight on Tennessee's IMPROVE Act, a bill designed to provide funding for road and bridge projects and attract manufacturing jobs to the state. 

To pay for the road and bridge projects, the IMPROVE Act increases Tennessee's various gas tax rates. Tax rates will increase starting July 1, 2017, and increase again in 2018 and 2019. Michael provided details for the new rates applicable to different types of fuel.

The IMPROVE Act also provides certain taxpayers the ability to elect a single-sales-factor apportionment formula for franchise and excise tax purposes. As Steve points out, this election "applies only to Tennessee companies engaged in manufacturing, [and] could have a broad application. Under the bill, a manufacturer is defined as having more than 50 percent of its earnings derived from manufacturing. But in determining whether half or more of a company's earnings count as manufacturing, passive income such as interest and investment income is not counted."

Another component of the bill is the continued phase out of the Hall income tax. Michael indicated that, if the IMPROVE Act is approved in reconciliation, the applicable rate would be reduced by one percentage point each year without the legislature having to take further action.

The full article, "Lawmakers Approve Single Sales Factor, Gas Tax Increase," was published by State Tax Notes on May 1, 2017, and is available online (subscription required).


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