Where Are We Weak?

By Kleinheider Posted on December 10, 2009 at 7:48 am

The Knoxville News Sentinel thinks its time to take stock of our revenue situation:

One recent story in The (Nashville) Tennessean noted that many companies have shifted their profits over state lines to avoid tax payments. Sen. Tim Burchett, a Knoxville Republican, has sponsored legislation that would require a different kind of tax reporting and reduce the sales tax on food.

State officials are divided on whether to crack down on these tax shelters, some stating the time to adjust is during an audit. Burchett’s bill could be a starting point to look at the whole tax structure and see where the state might be losing revenue.

The time is right for a review that could help the state emerge from the recession sooner and with a firmer footing.

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