DICK BROADCASTING CO., INC. OF TENNESSEE v. OAK RIDGE FM, INC., ET AL. (Tenn. Ct. App. October 19, 2011
The plaintiff filed suit against the defendants for causes of action sounding in contract after the defendants refused to consent to the assignment of certain agreements relating to the programming of a radio station. The parties filed competing summary judgment motions. The trial court dismissed the case, finding as a matter of law that the defendants did not breach one of the contracts at issue. The plaintiff appealed. We reverse the judgment of the trial court.
Opinion available at:
http://www.tba2.org/tba_files/TCA/2011/dickbroadcasting_101911.pdf
Wednesday, October 19, 2011
Friday, October 7, 2011
Amazon to begin collecting Tennessee sales tax in 2014
Amazon to begin collecting Tennessee sales tax in 2014
October 6, 2011
Brian Reisinger (Staff Reporter - Nashville Business Journal)
Gov. Bill Haslam confirmed a sales tax deal with online retailer Amazon.com Thursday morning, announcing thousands of additional jobs and what he hopes will be the resolution of a long-running dispute within the business community.
Amazon will invest a total of $350 million and create 3,500 full-time jobs under the deal, which will also include new locations in Tennessee. Amazon had previously committed to 1,500 jobs in Hamilton and Bradley counties, and between 300 and 500 jobs in Wilson County. The company also anticipates thousands of additional seasonal jobs.
See the full article at the Nashville Business Journal web site: http://www.bizjournals.com/nashville/news/2011/10/06/haslam-seals-amazon-deal-in-tennessee.html
October 6, 2011
Brian Reisinger (Staff Reporter - Nashville Business Journal)
Gov. Bill Haslam confirmed a sales tax deal with online retailer Amazon.com Thursday morning, announcing thousands of additional jobs and what he hopes will be the resolution of a long-running dispute within the business community.
Amazon will invest a total of $350 million and create 3,500 full-time jobs under the deal, which will also include new locations in Tennessee. Amazon had previously committed to 1,500 jobs in Hamilton and Bradley counties, and between 300 and 500 jobs in Wilson County. The company also anticipates thousands of additional seasonal jobs.
See the full article at the Nashville Business Journal web site: http://www.bizjournals.com/nashville/news/2011/10/06/haslam-seals-amazon-deal-in-tennessee.html
Thursday, October 6, 2011
Attorney General Opinion: Out-of-State Dealer's Nexus as a Result of Activities of In-State Distribution Center
In this opinion, the Attorney General discussed whether an out-of-state dealer that maintains an in-state distribution center or warehouse is required to collect Tennessee sales tax from Tennessee consumers. The AG concluded that, "if a retailer directly maintains or owns an in-state distributing house or warehouse, then the retailer has a physical presence within the State of Tennessee and, thus, has nexus with Tennessee for Commerce Clause purposes. On the other hand, if the in-state distributing house or warehouse is owned by a retailer’s subsidiary, instead of the retailer directly, nexus is established only if the subsidiary’s in-state activities are significantly associated with the retailer’s ability to establish and maintain a market in Tennessee for its sales."
The Attorney General also concluded that the fact that the dealer accepts purchase orders through electronic means does not release it of liability from collecting sales tax. Finally, he states that although the "State of Tennessee cannot contractually waive a taxpayer’s obligation to pay sales taxes where the Retailers’ Sales Tax Act unambiguously establishes an obligation to pay such taxes," the Commissioner of Revenue may exercise discretion in determining the best methods of enforcing Tennessee's tax laws.
Read the full opinion here: http://www.tba2.org/tba_files/AG/2011/ag_11_71.pdf
The Attorney General also concluded that the fact that the dealer accepts purchase orders through electronic means does not release it of liability from collecting sales tax. Finally, he states that although the "State of Tennessee cannot contractually waive a taxpayer’s obligation to pay sales taxes where the Retailers’ Sales Tax Act unambiguously establishes an obligation to pay such taxes," the Commissioner of Revenue may exercise discretion in determining the best methods of enforcing Tennessee's tax laws.
Read the full opinion here: http://www.tba2.org/tba_files/AG/2011/ag_11_71.pdf
Monday, October 3, 2011
Local banks enticed with funds for small business loans
Local banks enticed with funds for small business loans
By Josh Flory
Billy Carroll, president and CEO of Pigeon Forge-based SmartBank, acknowledges that the regulatory climate is tougher than it used to be, but said that banks still want to loan money.
'If we can't grow assets we can't make money,' he said. 'We can't generate a return for our shareholders.'
SmartBank's parent company was approved recently for $12 million through the federal Small Business Lending Fund, and Carroll said the bank is working on a couple of small-business loans that he thinks were generated by its participation in the program.
The funding, he said, allows the bank to price its loans a little more competitively, to grow its asset base 'and not have to worry about going out and immediately trying to raise capital behind that.'
SmartBank is among a handful of Tennessee community banks that have been on the receiving end of money from the $30 billion program approved by Congress last year.
See the full article at the Knoxville News Sentinel web site: http://www.knoxnews.com/news/2011/oct/03/local-banks-enticed-funds-small-business-loans/
By Josh Flory
Billy Carroll, president and CEO of Pigeon Forge-based SmartBank, acknowledges that the regulatory climate is tougher than it used to be, but said that banks still want to loan money.
'If we can't grow assets we can't make money,' he said. 'We can't generate a return for our shareholders.'
SmartBank's parent company was approved recently for $12 million through the federal Small Business Lending Fund, and Carroll said the bank is working on a couple of small-business loans that he thinks were generated by its participation in the program.
The funding, he said, allows the bank to price its loans a little more competitively, to grow its asset base 'and not have to worry about going out and immediately trying to raise capital behind that.'
SmartBank is among a handful of Tennessee community banks that have been on the receiving end of money from the $30 billion program approved by Congress last year.
See the full article at the Knoxville News Sentinel web site: http://www.knoxnews.com/news/2011/oct/03/local-banks-enticed-funds-small-business-loans/
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