Insurance companies to receive tax refunds following Supreme Court decision

Tennessee workers compensation Insurance companies

The ruling was made following a unanimously in Tennessee and will grant over $16 million in refunds. The Tennessee Supreme Court has now unanimously ruled that the Department of Commerce and Insurance are required to provide five out of state groups of insurance companies with a tax refund of over $16 million. The state – like all others, aside from Hawaii – has taken on a retaliatory tax statute solely for the insurance industry. That statute has been created for the purpose of balancing tax burdens across state lines. It…

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