Bill Haslam on Corporations
Revenue Modernization Act: level playing field for business
Last year, there was a sharp decline in revenue collections. Most of the drop was in our business tax collections. Some of it is that companies outside of Tennessee, but that do business in Tennessee, aren't always required to pay the same taxes that
our in state and homegrown companies do.
We found that Tennessee has fallen behind other states in protecting our in state businesses from unfair competition from out of state companies. To remedy that, we will file the Revenue Modernization Act, which
aims to level the playing field in terms of sales tax and business taxes.
The bill also capitalizes on trends that we're seeing in product distribution by creating an incentive for companies to use Tennessee's distribution industry, which maximizes
our state's strengths. We are committed to Tennessee remaining a low tax state. This proposal simply brings us in line to better compete with other states and to not put our in state businesses at a disadvantage, which we are doing today.
Source: State of the State address to 2015 Tennessee Legislature
, Feb 9, 2015
Encourage business with low taxes and austere government
Bill is using his experience to get our state through difficult economic times while keeping taxes low and fostering the business-friendly environment that will be critical to continued job growth. State government must be forced to prioritize.
By making tough decisions, managing the state budget conservatively, and guiding our state finances back to a position of strength, Bill is helping our state compete in a global economy and attract the jobs of the future to Tennessee.
Source: 2011 gubernatorial press release, "Priorities"
, Nov 7, 2011
Page last updated: Nov 23, 2017