HB 423: Taxes, Privilege - As introduced, specifies that the privilege tax exemption for subsidiaries of agricultural cooperatives applies without regard to whether the subsidiary was formed as a corporation, limited liability company, limited liability partnership, or other legal entity, association, or body vested with the power or function of a legal entity. - Amends TCA Title 43, Chapter 16, Part 1 and Section 67-4-102.

Plain-language summary

HB 423 is a bill introduced in the Tennessee House on January 28, 2025. According to its official title, it concerns: Taxes, Privilege - As introduced, specifies that the privilege tax exemption for subsidiaries of agricultural cooperatives applies without regard to whether the subsidiary was formed as a corporation, limited liability company, limited liability partnership, or other legal entity, association, or body vested with the power or function of a legal entity. - Amends TCA Title 43, Chapter 16, Part 1 and Section 67-4-102. Primary sponsor: Pat Marsh (Republican). Most recent recorded action (February 3, 2025): Intro., P1C.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written