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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateTennessee
Effected JurisdictionTennessee
Jurisdiction type: State
Fiscal year ending In2020
Program nameManufacturing and Industrial Machinery Program
Program purpose: Manufacturing development
Statutory authority: Tennessee Code Annotated 67-4-2009 and Tennessee Code Annotated 67-4-2109
Abating jurisdiction(s): State of Tennessee
Applicable taxesFranchise Tax; Excise Tax
Method of abatement: Tax Credit
Provisions for recapture: Recapture provisions provide that, if the required purchase amount of equipment is not met during the investment period, the taxpayer shall be subject to an assessment equal to the amount of the credit taken for which the taxpayer failed to qualify plus interest.
Gross revenue loss: $58,727,000
Reimbursement / offset: $0
Net revenue loss: $58,727,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.tn.gov/finance/rd-doa/fa-accfin-ar.html