Bill Title: As enacted, specifies additional circumstances under which the commissioner of revenue may waive penalties for delinquent franchise and excise taxes; alters the formula for calculating quarterly estimated payments for franchise and excise taxes; reduces penalties for deficient or delinquent estimated franchise and excise tax payments from 5 percent to 2 percent per month; makes other related revisions. - Amends TCA Title 67.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Passed) 2016-05-02 - Comp. became Pub. Ch. 881 [SB2558 Detail]

Text: Latest bill text (Draft #2) [PDF]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Mark Norris [R]	Primary	Sponsored Bills	SD-032	FollowTheMoney	Ballotpedia	VoteSmart
Senator Randy McNally [R]	Cosponsor	Sponsored Bills	SD-005	FollowTheMoney	Ballotpedia	VoteSmart
Senator Todd Gardenhire [R]	Cosponsor	Sponsored Bills	SD-010	FollowTheMoney	Ballotpedia	VoteSmart

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