Tax Incentives Reporting

By January 1 of each year, the Department of Revenue prepares a report of tax credits. The report includes tax credits claimed under Tenn. Code Ann. Sections 67-4-2009 and 67-4-2109 for tax periods ending during the previous fiscal year and contains the following:

Name of tax credit
Number of taxpayers claiming the tax credit during the fiscal year
Number of jobs taxpayer reported as created during the fiscal year, if applicable
Nature of business of taxpayers claiming job tax credits

For additional informational purposes, the amount of potentially available tax credit carried forward from a prior tax year is also provided.

Tenn. Code Ann. Section 67-1-2109(r) requires the report be provided to the Finance, Ways and Means Committees of the Tennessee House of Representatives and Tennessee Senate. Taxpayer confidentiality prohibits the disclosure of returns, tax information, or tax administration information defined in Tenn. Code Ann. Section 67-1-1701. Thus, in certain limited instances, values must be suppressed so as not to violate taxpayer confidentiality. To promote the most transparency possible, reports and frequently asked questions are available below: