SB1274 — Taxes, Franchise - As introduced, allows professionals who own corporations, limited partnerships, and similar business entities to take their professional privilege tax payment as a credit against the business entity's franchise and excise tax liability. - Amends TCA Title 67, Chapter 4, Part 17; Title 67, Chapter 4, Part 20 and Title 67, Chapter 4, Part 21.

SB1274 — Taxes, Franchise - As introduced, allows professionals who own corporations, limited partnerships, and similar business entities to take their professional privilege tax payment as a credit against the business entity's franchise and excise tax liability. - Amends TCA Title 67, Chapter 4, Part 17; Title 67, Chapter 4, Part 20 and Title 67, Chapter 4, Part 21. · Informed CitizenrySB1274 amends the Tennessee Code to allow certain business entities to receive a credit against their combined franchise and excise tax liability. This credit is equal to the amount of professional…Open in Informed Citizenry