Bass, Berry & Sims attorney Steve Jasper provided comment for an article detailing the draft regulations proposed by the Tennessee Department of Revenue (DOR) to implement the State’s recent adoption of market-based sourcing for franchise and excise tax purposes. The proposed rules, released October 7, provide detailed guidance for the various kinds of industries affected by this new legislation. As Steve points out in the article, “‘[t]here are so many in-depth, special rules for special kinds of sales, for special kinds of industries, and special kinds of taxpayers, it just shows how complex market-based sourcing really is.'”

The full article, “DOR Releases Draft Market-Based Sourcing Regulations,” was published by Tax Analysts’ State Tax Notes on October 26, 2015 and is available online (subscription required).