Repeal of Tennessee Franchise and Excise Tax Property Measure- potential refund for 2020-2023 tax years
In May, 2024 Governor Bill Lee signed a bill which eliminated the Property measure for the annual Franchise and Excise tax.
This means any taxpayer who filed a return for the 2020-2023 tax year will be entitled to a refund if their Franchise Tax was based on the Property Measure.
Taxpayers have until November 30, 2024 to file the amended returns on the state’s TNTAP website.
https://www.tn.gov/revenue/2024franchisetax.html
