Taxes, Sales - As introduced, requires the commissioner of revenue to establish a sales tax remittance schedule that allows dealers making sales to reasonably offset the burden of transaction fees associated with the collection of sales tax. - Amends TCA Title 67, Chapter 6.

SB 1081 requires Tennessee's tax commissioner to create a new sales tax payment schedule allowing merchants to hold collected sales tax funds longer. This gives merchants time to offset credit card processing fees they pay on transactions, including fees applied to the sales tax portion itself. The schedule must be calculated using specific factors like last year's total sales tax collections, the percentage of card transactions, current credit card fees, and the federal funds rate. The bill aims to prevent merchants from paying fees on the state's share of sales tax without changing existing tax collection forms or processes.