Metro Council Approves New Tax On Sales In Central Business District
This is not the behind-the-scenes work of Lamar Wyatt of the ABC hit Nashville even though it can have the appearance of a offer that he would love. That aside, last night at the actual Nashville Metro Council meeting the city council enacted Legislation to tax sales of services and tangible personal property sold at retail within the central business area. Revenue from the new tax (labeled a “charge”) will be used to market the new Music City Center.
The new tax will be .25% of the sales price of the taxable items and you will be gathered by the Tennessee Department of Revenue very much the same as condition sales tax is collected. Sales of professional services, lodging, concerts, sports, newspapers, long-term car parking, and liquor are not at the mercy of the new tax.
The limitations of the district are approximately the Cumberland River to the east, Lafayette Street south, 8th Avenue to the West and Charlotte avenue to the North. Further background on the the tax/fee are available in this link to the Tennessean Article. For taxes professionals, the legislation is light on details regarding when a sale is considered to maintain the region and the exemptions are likewise vague. Don’t get me began. 4 beer relating to sponsors.
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