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TN State Representative, Rush Bricken talks small business tax cuts

State Rep. Rush Bricken

Rush Bricken, Tennessee state Representative of the 47th District (serving Coffee and Grundy Counties) was in Manchester last week.

Bricken spoke at the Manchester Area Chamber of Commerce Meeting. He highlighted some upcoming tax breaks for small business owners:

If you are a corporation, limited partnership, limited liability company, or business trust chartered, qualified, or registered in Tennessee or doing business in this state, then you must register for and pay franchise and excise taxes. The franchise tax is based on the greater of net worth or the book value of real or tangible personal property owned or used in Tennessee. The excise tax is based on net earnings or income for the tax year.

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