AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, relative to taxation.
The introduction of this bill is likely to impact state tax administration by authorizing the commissioner to grant extensions, which could provide relief for taxpayers during periods of financial strain or uncertainty. This adjustment may help facilitate compliance and enhance the relationship between the state and its residents or businesses by acknowledging the need for flexibility in tax matters.
Senate Bill 139 (SB0139) is a legislative proposal aimed at amending the Tennessee Code Annotated specifically within Title 67, Chapter 4, which pertains to taxation. The proposed amendment introduces a new subdivision that allows the commissioner to grant an extension of time concerning specific tax obligations outlined in this chapter. This change appears to be focused on providing flexibility in the administration of tax rules, particularly for entities needing additional time to comply with their tax duties.
While there may not be significant contention noted in the context of this bill, it can be expected that discussions among stakeholders could arise regarding the implications of granting such extensions. Potential concerns could include the impact on state revenue and the fairness of extending deadlines for certain taxpayers over others. Ultimately, the degree to which the bill is debated will hinge on the expected effects on tax collection and the overall economic health of the state.