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2007 News Releases

For Immediate Release: September 10, 2007

ASSOCIATION FOR GOVERNMENT ACCOUNTANTS HOSTS BUSINESS
TAX SEMINAR ON SEPT. 25 IN NASHVILLE AREA

NASHVILLE, Tenn. - The Association of Government Accountants will host a seminar on Tennessee business taxes on Sept. 25 from 8:15 a.m. to 5 p.m. at the Willis Conference Center, 26 Century Boulevard, Nashville, Tenn., 37214. Featured speakers will include representatives from the Tennessee Department of Revenue, the Tennessee Department of Labor and Workforce Development and the Tennessee Comptroller of the Treasury who will facilitate sessions related to taxes affecting businesses. In addition, a representative will speak on county/city business tax.

This seminar is designed to assist those who work with business-related taxes. Attendees will receive materials explaining tax responsibilities and have the opportunity to ask qualified presenters specific questions.

Seminar topics include overviews and updates of the following:

  • Legislative Amendments to Tax Law
  • Recent Court Cases that Affect Tax Administration
  • Sales and Use Tax
  • Streamlined Sales Tax
  • Franchise and Excise Taxes
  • Individual Income Tax
  • Unemployment Tax
  • Business Tax
  • Unclaimed Property
  • Tangible Personal Property Tax

The Department of Revenue is responsible for the administration of state tax laws and motor vehicle title and registration laws established by the legislature and the collection of taxes and fees associated with those laws. The Department of Revenue collects approximately 92 percent of total state tax revenue. During the 2006-2007 fiscal year, the department collected $11.0 billion in state taxes and fees. In addition to collecting state taxes, $1.9 billion of local sales tax was collected by the department for local governments during the 2006-2007 fiscal year. Besides collecting taxes, the department enforces the revenue laws fairly and impartially in an effort to encourage voluntary taxpayer compliance. The department also apportions revenue collections for distribution to the various state funds and local units of government. To learn more about the department, log on to www.TN.gov/revenue.

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