Bass, Berry & Sims attorney Steve Jasper was quoted in an article about Tennessee’s legislative proposal to change the state’s franchise and excise tax calculation. The Republican senator who filed the proposal, along with many supporters, argues the changes will make the state more business-friendly. As Steve points out in the article, the proposed legislation “would change the current apportionment for both taxes from a three-factor formula (with the sales factor triple-weighted) to a sales-factor-only formula. This kind of change was anticipated when the triple-weighted sales factor was adopted a couple of legislative sessions ago, but the effective date for the currently proposed change to a single sales factor is earlier than previously expected … If this bill ultimately becomes law, Tennessee will join the trend of states adopting a single-sales-factor approach to apportionment with the goal of making the state a more attractive location for businesses.”

The full article, “Lawmakers to Consider Single-Sales-Factor Apportionment,” was published online by State Tax Notes on January 16, 2017, and is available online (subscription required).