A $271 million business tax break among the many items in Tennessee's 2023 budget

Buried among the many changes made to Tennessee’s 2023 budget is a several hundred million tax break for some of the state’s largest businesses and a change in how companies depreciate their assets will allow a significant windfall over the next four years, estimated at $271.2 million in tax savings.

These cuts are among several other tax breaks and spending projects that are part of the state’s $56.2 billion budget proposed by Gov. Bill Lee and passed by state lawmakers. 

Republicans, who have led the charge for the depreciation tax change, said it would help  provide incentive for  businesses to invest more money in the short term. The depreciation measure is among several tax changes, including raising the standard deduction for franchise and excise tax, as well as a three-month sales tax break on food sales. 

American dollar by engin akyurt is licensed under Unsplash unsplash.com

Help FAIRtax Become The Number One Issue in 2024

Enacting the FAIRtax must be a prominent topic in these times. We did it before, we can do it again, but we need your help!

Help out with a One-Time Contribution

Your gift of $25, $50, $100 – even $1,000 or more if you can possibly spare it – will help FAIRtax.org bring an end to the IRS and promote a FAIRtax. So, I urge you, please give as generously as you can.

Billing information (REQUIRED)

Payment information (REQUIRED)

To donate by check:
Americans for Fair Taxation
PO Box 4929
Clearwater, FL 33758

If you need to make changes to your existing Monthly Re-Occurring Donation with new card or billing address information, then Please call Adam Yomtov our New York State Co-Director. He is assisting with the administration of our donations, technology services, and website.

Please note: Inputting your new information at our website won't update your donation. The only way to update is by calling Adam Yomtov 917-689-3931 mobile.

Americans for Fair Taxation® is a 501(c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. We rely entirely on contributions from concerned citizens like you who want a tax system that will generate jobs and stimulate the economy. Welcome to the FAIRtax team!