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Tennessee letter rulings address various issues, including taxability of cloud collaboration services

The Tennessee Department of Revenue has recently issued several revenue rulings that provide taxpayers with guidance on corporate franchise, excise and sales tax issues. Specifically, the rulings address the application of the definitions of public and captive real estate investment trusts and the availability of the Tennessee industrial machinery credit to taxpayers who have made an election under Internal Revenue Code Section 338(h)(10) for franchise and excise tax purposes, as well as the sales and use taxability of cloud collaboration services and specific edible and nonedible products sold in Tennessee.

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