General Assembly Approves $280 Million in Tax Cuts
Recently, members of the 112th General Assembly approved historic tax cuts totaling about $280 million. It includes an $80 million month-long sales tax holiday on food in August, as well as the traditional sales tax holiday on clothing and school supplies before the start of school. The budget removes the state’s tax portion of license plate registration fees for one year, a $121 million tax break for every Tennessean who drives a passenger vehicle or motorcycle.
Other tax cuts include:
$3 million recurring tax cut on machinery and equipment to support Tennessee farmers
Extension of the sales tax exemption on gun safes through June 30, 2023 - $320K
Exemption of sales tax of gold, silver, platinum and palladium coins/bullion - $360K
Professional Privilege Tax - eliminates taxes on doctors - $9.7 million
Broadband Tax Credit: Provided for three years at $204 million in tax relief, $68 million each year for three years to bring as many Tennesseans online as quickly as possible
Supports small business by reducing tax compliance/remittance costs
Kelly Keisling serves as State Representative for House District 38 which encompasses Macon, Clay, Pickett, Scott, and part of Fentress Counties. To reach State Representative Kelly Keisling, call 615-741-6853 or email him at firstname.lastname@example.org. Connect with Kelly on Twitter, Facebook, and Instagram.
Representative Keisling serves as Chairman of the State Government Committee and Vice Chairman of the Joint Fiscal Review Committee. He also serves as a member of the Calendar and Rules Committee, Transportation Committee, Corrections Subcommittee, Departments and Agencies Subcommittee, and Public Service Subcommittee.