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Department of Revenue requests $18.7M increase; reports nearly $1.3B refunded under 2024 franchise tax provision
Summary
Commissioner David Gergano outlined requested contract renewals and spending authority increases for the Department of Revenue and provided a status update on the large franchise tax refund provision: roughly $1.3 billion refunded to claimants so far, 67,000 claims received and several categories of remaining amounts under review.
The Tennessee Department of Revenue asked the Finance, Ways and Means Committee for budget adjustments totaling about $18.7 million and updated lawmakers on the implementation of a 2024 franchise tax refund provision that generated tens of thousands of claims.
Budget requests and major contract renewals
Commissioner David Gergano described budget items the department grouped into two categories: contract renewals/service delivery and requests to recognize and spend existing fee revenue. Major items included:
- Fast Enterprises maintenance contract (state tax system): $4,400,000 recurring to fund a five-year maintenance contract for the department's comprehensive tax processing system, which handles roughly 2 million electronic returns and nearly $27 billion in state and local tax collections, and is used by other state and local entities for information sharing and local tax administration.
- Tricor license-plate contract: $3,000,000 recurring to cover increased production costs for license…
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