Tennessee § 67-4-2123 Annual election of minimum tax base pursuant to section 67-4-2108 - Requirements for election

Tennessee Statutes

§ 67-4-2123 — Annual election of minimum tax base pursuant to section 67-4-2108 - Requirements for election

Tennessee § 67-4-2123

Title67

This text of Tennessee § 67-4-2123 (Annual election of minimum tax base pursuant to section 67-4-2108 - Requirements for election) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 67-4-2123 (2026).

Text

If the application of this part to a tax period results in a lower tax base than the minimum tax base under § 67-4-2108 , as that section existed prior to May 10, 2024, and as it applied to tax periods ending before December 31, 2023, then a taxpayer may annually elect to use the minimum tax base in § 67-4-2108 as it applied to tax periods ending before December 31, 2023; provided, however, the election must result in a higher tax levied for the tax period under § 67-4-2106 , and the taxpayer waives any claim that the minimum tax base under § 67-4-2108 is unconstitutional by failing the internal consistency test.

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If the application of this part to a tax period results in a lower tax base than the minimum tax base under § 67-4-2108 , as that section existed prior to May 10, 2024, and as it applied to tax periods ending before December 31, 2023, then a taxpayer may annually elect to use the minimum tax base in § 67-4-2108 as it applied to tax periods ending before December 31, 2023; provided, however, the election must result in a higher tax levied for the tax period under § 67-4-2106 , and the taxpayer waives any claim that the minimum tax base under § 67-4-2108 is unconstitutional by failing the internal consistency test.