3-month grocery tax holiday part of ‘single largest’ tax cut in state history

(Information from Gov. Lee’s office) Thursday, Governor Bill Lee signed the Tennessee Works Tax Act, called “the single largest tax cut in state history,” to provide more than $400 million in savings for Tennessee families and businesses while supporting future economic growth. The legislation includes a three-month grocery tax holiday beginning August 1.

Shopping lists in app format. Shot of a young woman using a mobile phone in a grocery store. Photo from Envato Elements

The Tennessee Works Tax Act totals more than $400 million in tax cuts for Tennessee families and businesses, including a three-month grocery tax suspension:

Tennessee Works Tax Act (SB275/HB323)

  • $273 million for a one-time, three-month sales tax holiday on grocery items
    to direct relief for Tennessee families from August 1 through October 31
  • More than $150 million in annual small business tax relief, including raising
    the exemption threshold for the business tax, exempting the first $50,000 of
    net income from excise tax and protecting the first $500,000 in property
    investment from the franchise tax
  • $64 million to simplify tax administration and conform with the federal bonus
    depreciation provisions of 2017 Tax Cuts & Jobs Act, allowing businesses to
    more quickly recover costs and further incentivize investment in Tennessee
  • Provides foundation for supporting Tennessee’s continued economic
    growth, aligning Tennessee with more than 30 states by adopting “single
    sales factor” apportionment for franchise and excise tax

About Brad Jones

Brad is the Owner/Operator of BBB TV 12, and has been with the company since August of 1996. Brad is a 1987 graduate of Coalfield High School and a 1995 graduate of the University of Tennessee College of Communications. He won the 1995 broadcast production student of the year award. Brad worked at Shop at Home, Inc. a home shopping network that was located in Knoxville, TN from 1993 - 1995 and then at Via TV (RSTV, Inc.) from 1995 - 1996. After some freelance work in Nashville, Brad joined the BBB Communications staff in August of 1996. A short stint at WVLT TV as a news photographer was in 2001, but he continued to work at BBB TV as well. Brad is married to Nicole Jenkins Jones, a 1990 graduate of Oak Ridge High School, who works at Oak Ridge Gastroenterology and Associates in Oak Ridge. They have 3 kids, Trevor Bogard, 27, Chandler 22, and Naomi 13. On December 12, 2013 they welcomed their first grandchild, Carter Ryan Bogard. Brad is also the assistant boys basketball coach at Coalfield High School for the past 11 years. In 2013-14 the Yellow Jackets won their first district title since 1991 and just the 4th in school history.

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