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TN
Tennessee Works Tax Act - Business Tax Filing Exemption for Small Restaurants
The Tennessee Works Tax Act eliminates the annual business tax filing obligation for small food service businesses with annual gross sales under $100,000 per county/city. Also creates a $50,000 standard excise tax deduction for tax years ending on or after December 31, 2024.
About this program
Visit the program website for full details.
Eligibility
Tennessee restaurants, cafes, bakeries, and food service businesses with annual gross sales under $100,000 within a county and/or city are exempt from the annual business tax filing obligation. All Tennessee businesses benefit from the $50,000 excise tax deduction.
Requirements
- Must be a Tennessee-based food service business
- For filing exemption: must have annual gross sales under $100,000 per county/city
- For excise tax deduction: applicable to tax years ending on or after December 31, 2024