Taxes - As introduced, requires every taxpayer eligible for an excise tax exemption under present law to file the application for, or renewal of, the exemption on or before the 20th day, instead of the 15th day, of the fourth month following the close of the first tax year for which the person claims the exemption. - Amends TCA Title 67.

114th Regular Session (2025-2026) Introduced by Jeff Yarbro

The filing deadline for excise tax exemption applications or renewals is extended from the 15th to the 20th day of the fourth month after the tax year end.

Assigned to General Subcommittee of Senate Finance, Ways & Means Committee

#taxes

Purpose

Extends the deadline by which certain taxpayers must file an application for, or renewal of, an excise tax exemption. The change moves the filing deadline from the 15th day to the 20th day of the fourth month following the close of the taxpayer’s tax year. The bill amends Tennessee Code Annotated Title 67, specifically section 67-4-2008(f), and takes effect upon becoming law.

Key Provisions

Deadline Extension: For taxpayers eligible for an excise tax exemption, the filing deadline for the exemption application or renewal is extended from the 15th day to the 20th day of the fourth month after the close of the taxpayer’s tax year.

Scope of Change: The amendment applies to existing provisions that govern those eligible for excise tax exemptions under present law (corporations, companies, credit unions, venture capital funds, partnerships, and similar entities as defined by Tenn. Code Ann. §§ 67-4-2008(a) and (f)).

Effective Date: The act becomes law when it is enacted (takes effect upon becoming a law).

Who is Affected

Entities eligible for the Tennessee excise tax exemption, including:

Corporations
Companies
Credit unions
Venture capital funds
Partnerships and other entities described in the excise tax exemption framework

In practical terms, any taxpayer currently required to file an exemption application or renewal will have an additional five days to submit the filing.

Financial/ Fiscal Impact

Fiscal Impact: Not significant.

Rationale: The extended deadline is a modest administrative change that delays the filing deadline by five days without altering exemption eligibility or the underlying tax exemption framework. The fiscal note estimates no meaningful impact on state revenue or expenditures.

Procedural/Timelines

Legislative History Highlights:

Introduced and referred in early 2026.
Passed first and second consideration; assigned to the Senate Finance, Ways & Means Committee.
Assigned to a general subcommittee and advanced in April 2026.

Effective Date: Immediate upon becoming law (no delay period specified).

Practical Implications

Taxpayers who rely on the excise tax exemption will need to adjust internal filing calendars to ensure the exemption application or renewal is submitted by the new due date (the 20th day of the fourth month after their tax year end).

Administrative processes and deadlines in the Tennessee Department of Revenue may require minor updates to reflect the new deadline for exemptions.

If you’d like, I can provide a plain-language one-page briefing for stakeholders (e.g., corporate tax teams or tax compliance staff) or a side-by-side comparison with the current deadline.

Bill