SB0002 amends Tennessee tax laws to exempt food and food ingredients from sales tax and reallocates tax revenue to counties and municipalities.

SB0002 amends Tennessee Code Annotated, Title 57 and Title 67, to exempt the retail sale of food and food ingredients from sales tax. It also mandates that a portion of the tax revenue previously generated from food and food ingredients be redistributed to counties and municipalities. The bill specifies that this redistribution should be based on exempt sales data and other relevant information. Additionally, it modifies the criteria for tax revenue allocation, ensuring that at least 20% of a licensee's sales from food and food ingredients are considered.

SB0002 amends Tennessee tax laws to exempt food and food ingredients from sales tax and reallocates tax revenue to counties and municipalities.

SB0002 amends Tennessee Code Annotated, Title 57 and Title 67, to exempt the retail sale of food and food ingredients from sales tax. It also mandates that a portion of the tax revenue previously generated from food and food ingredients be redistributed to counties and municipalities. The bill specifies that this redistribution should be based on exempt sales data and other relevant information. Additionally, it modifies the criteria for tax revenue allocation, ensuring that at least 20% of a licensee's sales from food and food ingredients are considered.