Taxes - As enacted, directs TACIR to perform a study of the collection and remittance of state and local taxes, including sales and use taxes, collected at the point of sale by businesses in this state. - Amends TCA Title 67, Chapter 6, Part 5.

This bill changes how businesses in Tennessee are compensated for the costs of filing sales and use tax reports. It allows dealers to deduct a small percentage of the taxes they collect from the amount they owe the state, with the deduction capped at $25 per report. The compensation rate is 2% on the first $2,500 of taxes reported and 1.15% on any amount above that, but no deduction is allowed if a tax payment is late. Any money calculated under the new formula that exceeds the $25 cap must be kept by the state and added to the general fund.