Tennessee SB0131 exempts subsidiaries of agricultural cooperative associations from profit and privilege taxes.

Tennessee SB0131 amends Tennessee Code Annotated to exempt subsidiaries of agricultural cooperative associations from being considered as entities organized for profit and subject to privilege taxes. The bill aims to benefit agricultural interests by ensuring profits from these subsidiaries are used for the benefit of the agricultural cooperative associations. This act takes effect upon becoming law.

Tennessee SB0131 exempts subsidiaries of agricultural cooperative associations from profit and privilege taxes.

Tennessee SB0131 amends Tennessee Code Annotated to exempt subsidiaries of agricultural cooperative associations from being considered as entities organized for profit and subject to privilege taxes. The bill aims to benefit agricultural interests by ensuring profits from these subsidiaries are used for the benefit of the agricultural cooperative associations. This act takes effect upon becoming law.