Uncertainty is a barrier to business investment.
In 2015, Tennessee began to assess tax on the sale of licensed software. This has caused confusion for businesses that provide software-as-a-service, provide software services to clients that reside out of state or have users in multiple states, and those that provide software maintenance contracts. Although the Tennessee Department of Revenue has issued a number of clarifications to tax law since July 2015, companies have voiced their difficulty understanding how the law applies to their business.
The NTC held an AdvoTECH event in June 2016 with local tax experts and business leaders who were impacted by the new law, and with the Deputy Commissioner of the Tennessee Department of Revenue. It was a great opportunity for members to directly engage with public officials on an issue that impacts their bottom line.
How has this new tax impacted your organization? Please contact Alex Curtis for more information.
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