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TN SB1095
Bill
Status
Introduced
2/5/2025
Primary Sponsor
Joseph Hensley
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AI Summary
- Exempts the first $20.00 of the sales price from state sales and use tax when tangible personal property is purchased with physical cash
- "Physical cash" is defined as coins, paper money, and notes declared legal tender by state or federal law, including physical gold and silver
- Exemption does not apply to other taxes such as alcohol/tobacco taxes (Title 57) or local option taxes (Chapter 4, Part 10)
- Effective date: July 1, 2025
Legislative Description
AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 6, Part 3, relative to exemptions from sales and use tax.
Taxes, Sales
Last Action
Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025
4/17/2025
Committee Referrals
Finance, Ways and Means3/11/2025
Revenue Subcommittee3/4/2025
Finance, Ways and Means2/12/2025
Full Bill Text
No bill text available