Tennessee's business taxes pick up after decline

Friday, August 8, 2014, Vol. 38, No. 32

NASHVILLE (AP) — Tennessee's business taxes are starting to pick up.

WPLN-FM (http://bit.ly/1q900rm) reports economist Bill Fox discussed his findings in a conference call with Secretary of State Tre Hargett this week.

Fox said that the state's franchise and excise taxes took a hit after health-care services company McKesson left Tennessee for Mississippi. That departure helped contribute to a $222 million deficit in business taxes.

But Hargett said the latest numbers show that Tennessee's new business filings are growing at a steady pace.