Amends TCA Title 67, Chapter 4, Part 7.
Tennessee HB0526 authorizes the commissioner of revenue to extend the due date for a taxpayer's business tax return to a minimum of 60 calendar days after the end of the taxpayer's business tax period, instead of the current requirement of two calendar months. This change specifically affects taxpayers who wish to align their business tax period with their fiscal year. The key provision allows for greater flexibility in tax return deadlines for businesses in Tennessee.
Tennessee HB0526 authorizes the commissioner of revenue to extend the due date for a taxpayer's business tax return to a minimum of 60 calendar days after the end of the taxpayer's business tax period, instead of the current requirement of two calendar months. This change specifically affects taxpayers who wish to align their business tax period with their fiscal year. The key provision allows for greater flexibility in tax return deadlines for businesses in Tennessee.
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