Amends TCA Title 43, Chapter 16, Part 1 and Section 67-4-102.
Tennessee HB0423 amends existing law to extend the exemption from being classified as corporations organized for profit to include limited liability companies, limited liability partnerships, and other legal entities associated with agricultural cooperative associations. This change affects entities organized as subsidiaries under agricultural cooperatives in Tennessee. Key provisions include the removal of privilege tax obligations for these additional legal structures when doing business in the state.
Tennessee HB0423 amends existing law to extend the exemption from being classified as corporations organized for profit to include limited liability companies, limited liability partnerships, and other legal entities associated with agricultural cooperative associations. This change affects entities organized as subsidiaries under agricultural cooperatives in Tennessee. Key provisions include the removal of privilege tax obligations for these additional legal structures when doing business in the state.
Track Tennessee Legislation Like a Pro
Join hundreds of professionals using LegisGo to stay ahead of legislative changes.
Instant Alerts
Get notified when bills you track move through the legislature
AI Summaries
Understand complex legislation in seconds with AI-powered analysis
Full Access
All 132 legislators, committee schedules, and voting records