Tenn. Senate tax subcommittee will hold April 3 hearing on bill (...
Tenn. Senate tax subcommittee will hold April 3 hearing on bill (SB-1484) to increase sales tax on business communications services to 7.5% from 3.5%. Boost would generate roughly $13 million that would be redistributed to incumbent telcos to reduce…
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business intrastate interexchange rates. Measure also would exempt from sales taxes certain types of network equipment for benefit of $10 million that would help offset higher local property tax rates on incumbents because they are classified as public utilities while CLEC property is taxed at lower rate as commercial businesses. Companies would be expected to reduce their intrastate business long distance rates to reflect their tax savings. Residential services wouldn’t be affected.