Imposes a pay disparity surcharge on companies with significant CEO-to-employee pay gaps.
The bill introduces the "CEO Pay Disparity Tax Act," which imposes a surcharge on companies operating in Tennessee where the top executive's pay is at least 100 times the median employee income. The surcharge is an additional 0.1% on the excise tax rate. The Department of Revenue will create rules to implement this tax, which takes effect July 1, 2025.
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