Tennessee HB1329 reduces the state administration fee on tax collection from 1.125% to 0.75%.
Tennessee HB1329 amends several sections of Tennessee Code Annotated to reduce the state administration fee on tax collection from 1.125% to 0.75%. This change affects the distribution of tax proceeds to local governments, reducing the fee taken by the state for administering tax collections. The bill also removes a subsection from Tennessee Code Annotated, Section 67-6-710. The changes take effect on July 1, 2025, and apply to tax collections received on or after that date.
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