State Revenue Commmissioner Reagan Farr (left) hasn't let go his interest in erasing the tax exemption enjoyed by Family-Owned Non-Corporate Entitites (FONCE), an effort that was strongly and successfully resisted earlier this year when the state's venture-capital community awakened to Farr's earlier attempt to repeal the 8-year-old exemption. Farr then set about surveying VCs and others, to get the data that was missing in the last round of this fight. During last week's 38-minute Bredesen Budget hearing on Farr's department, Farr raised FONCE again, and apparently has the support of Tennessee's chief executive. Our previous related story is here. A good story on this, earlier, at Knoxville News Sentinel.
Monday, November 24, 2008
Farr fights FONCE for funds
State Revenue Commmissioner Reagan Farr (left) hasn't let go his interest in erasing the tax exemption enjoyed by Family-Owned Non-Corporate Entitites (FONCE), an effort that was strongly and successfully resisted earlier this year when the state's venture-capital community awakened to Farr's earlier attempt to repeal the 8-year-old exemption. Farr then set about surveying VCs and others, to get the data that was missing in the last round of this fight. During last week's 38-minute Bredesen Budget hearing on Farr's department, Farr raised FONCE again, and apparently has the support of Tennessee's chief executive. Our previous related story is here. A good story on this, earlier, at Knoxville News Sentinel.
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