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Tax Law

Tennessee Governor Signs Marketplace Legislation

The Tennessee Governor signed a bill that requires marketplace facilitators to collect and remit sales and use tax on behalf of third party sellers on April 1, 2020. Under S.B. 2182, marketplace facilitators that made or facilitated total sales of more than $500,000 during the previous 12 months to consumers in Tennessee will be required to collect and remit sales and use tax. The bill will take effect on October 1.