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2023 Tennessee Code
Title 67 - TAXES AND LICENSES (§§ 67-1-101 — 67-10-107)
Chapter 2 - INCOME TAXATION (§§ 67-2-101 — 67-2-125)
Section 67-2-122 - Taxes paid on out-of-state shares of Subchapter S corporation
Universal Citation:
TN Code § 67-2-122 (2023)
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A resident individual who is a shareholder of a Subchapter S corporation that is incorporated and doing business in another state may deduct from the tax otherwise due under this chapter the tax paid to the other state as a result of such income, distributions or dividends; provided, that there exists a tax credit reciprocity agreement between Tennessee and the other state. In no case shall the credit permitted under this section exceed the tax that would be payable to this state.
Acts 1994, ch. 787, § 1.
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