Tennessee Senate, House cant find agreement on franchise tax cut during Conference Committee [Video]

NASHVILLE, Tenn. (WKRN) — Tennessee is set to cut its franchise tax on property businesses owned in this state. The only issue is the House and Senate can’t agree on how to get there.

“I would say that we’re at an impasse as it relates to being able to find a solution because I really feel like the House’s version is the one we’re going to stick with,” Rep. Ryan Williams (R-Cookeville) said in a Conference Committee.

The Senate wants to cut the tax and refund businesses back three years who have paid it in response to alleged legal issues. The House wants to only refund one year, while also making it so the businesses who accept the refund are public record.

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“I’m also concerned that if we do the one-year lookback that, should we then actually end up in litigation, that the court would look at that as inadequate, as an inadequate remedy for the problem,” …