Tennessee Department of Revenue Offers Tax Relief for Victims of December Storms

The Tennessee Department of Revenue is helping companies and households affected by the December 2023 storms with tax relief. Learn about deadline extensions and sales tax refunds and how to apply.

Tennessee Department of Revenue has announced crucial tax relief measures for businesses and homeowners affected by the severe weather on December 9th, 2023 (Photo: google)

Tennessee Department of Revenue: Tax Deadline Extensions and Sales Tax Refunds Available to Affected Businesses and Homeowners

In recent news, the Tennessee Department of Revenue has announced crucial tax relief measures for businesses and homeowners affected by the severe weather on December 9th, 2023. This relief includes deadline extensions for filing and payment of franchise and excise taxes, with the new deadline set on June 17th, 2024. Additionally, affected businesses in designated disaster areas, such as Davidson County, Dickson County, Montgomery County, and Sumner County, are automatically eligible for this extension.

Tennessee residents affected by the hurricanes may receive sales tax refunds on appliances, furniture, and building supplies. Residents must receive FEMA funding to repair, replace, or build their principal residence after a natural disaster to qualify. Major appliances, household furniture, and building supplies are eligible for a maximum $2,500 per residence rebate. These refunds must be requested from the Department of Revenue within a year of the FEMA determination letter.

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The legislation implemented by the Tennessee Department of Revenue in 2010, in response to the catastrophic flooding in the midsection of the state, serves as the foundation for the current initiative. Residents of Tennessee who have been affected by numerous natural disasters, such as wildfires, tornadoes, and flooding, have since received aid through this measure. The department endeavors to accelerate the recovery process and mitigate the financial strain on those impacted through the provision of these alleviation measures.

The Tennessee Department of Revenue‘s actions demonstrate a commitment to supporting businesses and homeowners during challenging times. The provision of tax relief and refunds underscores the state’s efforts to assist individuals and communities in their recovery from natural disasters. This initiative serves as a testament to the department’s dedication to providing tangible support to those in need.

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