Ok, so maybe it isn’t the Fuzz asking you to roll down the window to have look at your license and registration but many business will soon find the long arm of the Tennessee Department of Revenue hitting their mail boxes with inquiries about their operations.

The Tennessee Department of Revenue recently took the lead in overseeing business licenses formerly handled by city and county court clerks. Tennessee realized there was a better chance to cross reference various business taxes if this oversight were under the same jurisdiction. Initial studies indicate a huge revenue opportunity for the State as they bring non-filers into compliance.

We have found that many small businesses don’t seek the advice of their CPA when it comes to business licenses. Consequently, many of you may not be prepared to take advantage of the amnesty being offered by the State if you voluntarily get into compliance. See the attached link from the Tennessean: TN businesses get tax amnesty | tennessean.com | The Tennessean

If you are unsure as to whether or not you are properly licensed, check with your CPA. They should be able to help you determine whether or not you need a license and how to properly comply with the amnesty program. If you don’t have a CPA that can help you, Contact us.