Plain English Breakdown
The official source does not provide information on the exact number of taxpayers who will be affected or consequences for late submissions after the new deadline.
Tax Filing Deadline Change
This bill changes the deadline for filing or renewing an excise tax exemption application from the fifteenth day to the twentieth day of the fourth month after the end of a tax year.
What This Bill Does
- Changes the date when taxpayers must file or renew their excise tax exemption applications.
- Updates Tennessee's tax code to reflect this new deadline.
Who It Names or Affects
- Taxpayers who are eligible for an excise tax exemption under Tennessee law.
Terms To Know
- Excise Tax
- A tax on specific goods, activities, or transactions.
- Exemption
- An exception from paying a certain type of tax.
Limits and Unknowns
- The bill does not specify what happens if an application is submitted after the new deadline.
- It's unclear how many taxpayers will be affected by this change.