October 9, 2024
Tax Relief for TN Small Businesses Impacted by Hurricane Helene
Gov. Bill Lee and the Tennessee Department of Revenue today announced four tax relief measures for Tennessee businesses and individuals affected by the remnants of Hurricane Helene.
Consistent with the IRS’s decision to extend federal due dates for those businesses located in a designated disaster area resulting from Hurricane Helene, the Department of Revenue has extended the franchise and excise tax filing and payment due dates to May 1, 2025, for all taxpayers located in Carter, Cocke, Greene, Hamblen, Hawkins, Johnson, Unicoi, and Washington counties.
Additionally, the department will extend the franchise tax Schedule G refund filing deadline for businesses located in these counties to May 1. These extensions will be applied automatically.
Tennessee residents whose primary residence was damaged or destroyed due to Helene can also apply for a sales tax refund of up to $2,500 on major appliances, residential furniture, or residential building supplies. Individuals may file only one claim per residence. Read more information on the Click here learn more.
The department will also approve tax extension requests from affected taxpayers for other taxes on a case-by-case basis. Businesses should send their requests to Revenue.DisasterExtension@tn.gov and include the business name, entity ID or Tennessee account number, business location, and a brief description of the impact. For more information, please read this important notice.
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.