Tenn. Code Ann. § 67-4-2123: Annual election of minimum tax base pursuant to section 67-4-2108 - Requirements for election

If the application of this part to a tax period results in a lower tax base than the minimum tax base under § 67-4-2108 , as that section existed prior to May 10, 2024, and as it applied to tax periods ending before December 31, 2023, then a taxpayer may annually elect to use the minimum tax base in § 67-4-2108 as it applied to tax periods ending before December 31, 2023; provided, however, the election must result in a higher tax levied for the tax period under § 67-4-2106 , and the taxpayer waives any claim that the minimum tax base under § 67-4-2108 is unconstitutional by failing the internal consistency test.