Tennessee Department of Revenue Releases Fiscal Year 2022 Tax Credit Report
The Tennessee Department of Revenue recently released its Fiscal Year 2022 Tennessee Tax Credit Report. The annual report includes information on tax credits claimed for tax periods ending during the fiscal year beginning July 1, 2021, and ending June 30, 2022. Also included is the Updated Fiscal Year 2021 Tennessee Tax Credit Report.
Along with the amount of credit claimed for each fiscal year, the report includes the following details:
- Name and description of tax credit
- Number of taxpayers claiming the tax credit during the fiscal year
- Number of jobs taxpayers reported as created during the fiscal year
- Nature of business of taxpayers claiming job tax credits
The information in each year’s report is limited to tax returns filed as of the date the report was compiled.
The annual report is typically released by the Department of Revenue by Jan. 1 for the previous fiscal year.