business

TN politicians praise Supreme Court decision on states collecting taxes from on Internet sales

Overturning older decisions, the U.S. Supreme Court ruled today that states may require most online retailers to collect sales taxes on purchases made by their residents. The 5-4 decision came in a South Dakota case that had seen  Tennessee’s attorney general joining in support of South Dakota’s effort to begin requirement collection of the taxes.

Tennessee’s state Department of Revenue issued a new rule in 2016 requiring internet sellers to collect state and local sales taxes from their Tennessee customers. State legislators let the new rule stand, but implementation has been stalled awaiting court action.

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Fitzgerald Glider blames EPA rules — which Diane Black sought to block — as it cuts production, lays off employees

Fitzgerald Glider Kits, the Crossville-based company that stirred controversy earlier this year over dealings with U.S. Rep. Diane Black involving EPA rules for the old diesel engines it uses in producing trucks, has slashed its production and is laying off many employees, reports the Upper Cumberland Business Journal. The company blames EPA rules, which Black had pushed to repeal.

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Folks reported ‘flocking’ to first TN hemp dispensary — offering ‘pain relief’ through ‘mother nature’

People are “flocking” to the first hemp dispensary in Tennessee, which recently opened in Murfreesboro, says WTVF TV in a report that seems almost an advertisement for cannabidiol oil (CBD) sales – legalized by the state legislature two years ago with little fanfare and previously peddled on a mostly incidental basis within the state. Such sales led to a big bust in Rutherford County earlier this year, but all charges were dismissed after law enforcement officials realized candy contained CBD derived from hemp, not its illegal cousin plant marijuana, is legal in Tennessee and TBI labs confirmed that was the stuff being sold.

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Former mayoral candidate and business partner buy Nashville Scene and Nashville Post

The company owned by Nashville entrepreneur and former mayoral candidate Bill Freeman and his longtime business partner Jimmy Webb has acquired the Nashville Scene, the Nashville Post and Nfocus from holding company SouthComm, according to an article in the Scene.

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Gibson goes from Trump, Blackburn darling to Chapter 11

Nashville-based guitar maker Gibson has filed for Chapter 11 bankruptcy protection. The company’s products were featured at the White House last year as part of President Donald Trump’s “Made in America Product Showcase.” And in 2011, Gibson CEO Henry Juszkiewicz was the guest of U.S. Rep. Marsha Blackburn (R-Brentwood) at then-President Barack Obama’s State of the Union address. Juszkiewicz had blasted the Democratic adminstration for raids on Gibson factories to seize exotic wood imported in violation of environmental laws. Gibson the following year agreed to pay a $300,000 penalty to get federal prosecutors to drop the criminal case.

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Approved bill lets TN corporations avoid increased taxation

A bill that largely spares Tennessee corporations from an increase in state business taxes otherwise triggered by President Donald Trump’s 2017 federal tax overhaul is on its way to Gov. Bill Haslam for his signature, reports the Times Free Press.

According to a legislative fiscal note, enactment of the bill (SB2119, as amended) means the state will be giving up potential $112 million in foregone state corporate excise tax revenue over a period of several years beginning in fiscal year 2020-2021. And businesses, of course, will be spared paying that much in added taxes.

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With Haslam signature, legal Sunday booze sales can begin this weekend

Gov. Bill  Haslam today signed into law legislation that authorizes Sunday sales of liquor and wine, according to his communications department. The bill (HB1540) says that, insofar as liquor stores go, it takes effect “upon becoming law” – meaning when governor signs it.

Thus, Tennessee liquor stores could legally be open on this Sunday if the operators wish – or have time to prepare. But the bill also declares the effective date for grocery stores and supermarkets that sell wine only is Jan. 1, 2019. The first Sunday after that date is Jan. 6, 2019.

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‘Tennessee milk’ joins ‘Tennessee whiskey’ as legislature-approved marketing label

The Legislature has given final approval to a bill authorizing the use of the label “local Tennessee milk” in marketing dairy products, reports the Johnson City Press.  A milk marketing company that recently cancelled contracts with East Tennessee milk producers says it’s reviewing ramifications of the measure.

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House balks at six-hour minimum on motel room rentals (after unanimous Senate approval)

A bill prohibiting rental of motel rooms for less than six hours – passed unanimously in the Senate – failed on the House floor Wednesday with one critic citing the TV show ‘Shark Tank’ in voicing opposition, reports The Tennessean.

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Governor’s daughter, son-in-law buy 250-acre N.C. mountain retreat

Gov. Bill Haslam’s daughter and her husband are buying “The Swag,” a 250-acre western North Carolina mountain inn and retreat currently owned by Haslam family friends, reports the News Sentinel.

David and Annie Haslam Colquitt will purchase the property from founders and longtime owners Dan and Deener Matthews…  Annie Haslam Colquitt is the daughter of Gov. Bill Haslam and granddaughter of Pilot Flying J founder Jim Haslam. David, an attorney, left his job as a Pilot Flying J executive last month.

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