HB0988 amends Tennessee tax law to exempt subsidiaries of agricultural cooperative associations from certain taxes.
HB0988 amends Tennessee Code Annotated, Title 43, Chapter 16, Part 1 and Section 67-4-102, to exempt subsidiaries of agricultural cooperative associations from being considered as taxpayers organized for profit and subject to privilege taxes. The bill aims to ensure that profits from these subsidiaries benefit agricultural interests in the state. The act takes effect upon becoming law.
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