State of Tennessee Archives: on Corporations


Mark Green: Reapportion corporate excise tax to favor businesses in TN

Many people are not aware that our state corporate income tax laws hurt Tennessee-based businesses seeking to invest in high-paying jobs and property here in Tennessee. Businesses operating in more than one state apportion their income among the states in order to compute the corporate income tax (called the Excise Tax in Tennessee) that they owe to each state.

Tennessee's current formula uses a combination of sales, property and payroll. It's a strong example of a tax scheme that functioned in the 1980s but today creates a disincentive for businesses to create jobs and invest in our state.

Many of the states with the fastest job growth have changed to a sales-only apportionment formula. My bill brings Tennessee in line with these forward-thinking and growing states with which we regularly compete for capital investment and job growth.

Source: Knoxville News-Sentinel OpEd in 2018 Tennessee governor race Feb 21, 2015

Bill Haslam: Revenue Modernization Act: level playing field for business

Last year, there was a sharp decline in revenue collections. Most of the drop was in our business tax collections. Some of it is that companies outside of Tennessee, but that do business in Tennessee, aren't always required to pay the same taxes that our in state and homegrown companies do.

We found that Tennessee has fallen behind other states in protecting our in state businesses from unfair competition from out of state companies. To remedy that, we will file the Revenue Modernization Act, which aims to level the playing field in terms of sales tax and business taxes.

The bill also capitalizes on trends that we're seeing in product distribution by creating an incentive for companies to use Tennessee's distribution industry, which maximizes our state's strengths. We are committed to Tennessee remaining a low tax state. This proposal simply brings us in line to better compete with other states and to not put our in state businesses at a disadvantage, which we are doing today.

Source: State of the State address to 2015 Tennessee Legislature Feb 9, 2015

Terry Adams: Democracy is hijacked by corporations & special interests

Adams wondered out loud about a choice between Lamar Alexander, "a servant of Wall Street," or "Terry Adams, who will be a fierce advocate for Tennessee's Main Street," asking, "If we give Tennessee that choice, who do you think they will choose?"

He continued: "This country's $17 trillion in debt. The rich are getting richer, the poor are getting poorer, & the middle class is disappearing. Our democracy is being hijacked! It's been held back by millionaires, by corporations, & by special interests."

Source: Memphis Flyer on 2014 Tennessee Senate race Aug 6, 2014

  • The above quotations are from State of Tennessee Politicians: Archives.
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2016 Presidential contenders on Corporations:
  Republicans:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI)
Democrats:
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
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Page last updated: Mar 01, 2017