Important Notice #25-11: Taxability of Hemp-Derived Cannabinoid Products
Effective January 1, 2026, Public Chapter 526 (2025) amends the current law governing the taxation and regulation of sales of hemp-derived cannabinoid products.
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IRS Provides Interim Simplified Method for Corporate Alternative Minimum Tax
The IRS recently issued Notice 2025-27, providing interim guidance on the application of the Sec. 55 corporate alternative minimum tax (CAMT), which was enacted by the Inflation Reduction Act of 2022.
View MoreTennessee Launches Modernized Unemployment Tax System
The Tennessee Department of Labor & Workforce Development recently announced that it has fully modernized the state’s unemployment system with the implementation of Unemployment Tax functionality on http://www.jobs4TN.gov.
View MoreImportant Notice #25-10: Wine Sold on Winery Premises Exempt from Liquor-by-the-Drink Tax
Effective July 1, 2025, Public Chapter 477 (2025) exempts from liquor-by-the-drink tax the sale of wine for consumption on the premises of a winery, farm wine producer, or satellite facility of a winery or farm wine producer.
View MoreImportant Notice #25-09: Uranium Enrichment and Nuclear Energy Production Facilities
Effective July 1, 2025, Public Chapter 517 (2025) makes several changes to Tennessee sales and use tax law by allowing nuclear energy production facilities to qualify for the pollution control credit on certain purchases, deleting the statutory provision stating the enrichment of uranium materials on a cost-plus or “toll enrichment fee” basis is a taxable service, and by exempting qualified purchases of industrial machinery used to enrich, convert, or reconvert uranium.
View MoreA Refresher on the Deduction for Business Use of a Home
Many taxpayers have businesses that they own and manage and seek ways to minimize their tax burden by claiming deductions for business use of their homes.
View MoreImportant Notice #25-08: Bail Bondsmen/Court Clerk Quarterly Reports
Effective July 1, 2025, Public Chapter 396 (2025) requires every professional bail bondsman licensed to do business in this state to file a quarterly report with the Department of Revenue (the “Department”).
View MoreImportant Notice #25-07: Short-Term Rental Unit – 30 Day Occupancy
Public Chapter 364 (2025), effective July 1, 2025, subjects the first 30 days of occupancy in a short-term rental unit to the local occupancy tax, regardless of the overall length of stay.
View MoreImportant Notice #25-06: Vapor Products
Effective July 1, 2025, vapor products are subject to the tobacco tax at the rate of 10% of the wholesale cost price.
View MoreIRS Announces HSA Inflation-Adjusted Maximum Contribution Amounts for 2026
The IRS recently announced that the maximum contribution amounts for health savings accounts (HSAs) and certain related benchmarks will be slightly higher in 2026.
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