AN ACT to amend Tennessee Code Annotated, Title 67, relative to taxes.
The adoption of SB0198 would facilitate a shift towards electronic communications for tax reporting, which could streamline the process for local governments and businesses required to file annual tax reports. The move is anticipated to help reduce paper usage, enhance the speed of data submission, and optimize the state’s ability to manage and process tax information.
Senate Bill 198 (SB0198) seeks to amend Title 67 of the Tennessee Code Annotated with a particular focus on taxes. The proposed legislation specifically allows for the submission of annual reports in an electronic format to the State Board of Equalization. This change aims to modernize the reporting process for tax-related documentation, aligning it with current technological practices, thereby potentially increasing efficiency within the tax reporting system.
While the bill appears straightforward, its reception could be influenced by broader discussions around tax administration in Tennessee. Concerns may arise regarding the accessibility of electronic systems for all entities required to report, particularly among smaller businesses or local governments that may lack adequate resources for such transitions. However, proponent arguments would likely focus on the long-term benefits of updated reporting practices that align with modern business operations.