Amends TCA Title 43, Chapter 16, Part 1 and Section 67-4-102.
Tennessee SB0131 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 under the laws of Tennessee that are controlled by agricultural cooperatives. Key provisions include the removal of privilege tax obligations for these additional types of entities when doing business in the state.
Tennessee SB0131 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 under the laws of Tennessee that are controlled by agricultural cooperatives. Key provisions include the removal of privilege tax obligations for these additional types of entities when doing business in the state.
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