HB2324 amends Tennessee tax laws to require audits of franchise tax refunds to be publicly available and modifies record-keeping requirements.
HB2324 amends Tennessee tax laws by requiring audits of franchise tax refunds to be made available on the comptroller's website by December 31 of the subsequent fiscal year. It also mandates that the comptroller conducts or contracts for at least one annual financial audit of all franchise tax refunds claimed and issued. Additionally, the bill modifies record-keeping requirements, making refunds paid pursuant to certain sections open to public inspection as public records. This act takes effect immediately upon becoming law.
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- Legal Framework
- Critical Issues
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