Business owners and those navigating the complex world of taxes, take note. The Tennessee Department of Revenue is opening its virtual doors for a free seminar aimed at demystifying recent franchise and excise tax changes. Scheduled for March 26 at 9 a.m. Central time, this webinar intends to clarify the repercussions of the 2023 Tennessee Works Tax Act on the fiscal year end tax returns for December 31, 2023.
Despite the dense material, the department promises a streamlined discussion focusing solely on the changes already set in stone, not getting sidetracked by any pending legislation in the Tennessee General Assembly. Interested parties are being nudged towards the department's website to register for the webinar.
This educational session is but one link in a chain of monthly webinars offered by the department, completely free of charge. It's an inclusive effort to keep taxpayers, from fledgling businesses to seasoned enterprises, in the loop regarding state tax protocols. More information about the ongoing series and the topics covered can be found on the Department of Revenue’s official website.
In the fiscal year of 2023, the Department of Revenue was a workhorse behind the scenes, collecting about $22 billion in state taxes and fees, and more than a staggering $4.6 billion for local governments. To learn more about the department which is responsible for the administration of state tax laws and the collection of the lion's share of state revenue, visiting their website at www.tn.gov/revenue is advisable.
