Well what do you know? Former governor Phil Bredesen And former former tax chief Reagan Farr and former economic development chief Matt Kisber are now applying for tax breaks and programs they set up while in power in the legislature. Papers incorporating Silicon Ranch were filed in Delaware in August, with Bredesen listed as its chairman, Kisber as its president and CEO and Farr as its vice chairman.
From the Chas Sisk/Tennessean article...
Under the law, the projects qualify for three tax breaks:
• The company could get a full refund of any sales taxes it pays or owes on machinery or equipment.
• It would receive an exemption from the state’s franchise tax on equipment.
• The company’s local property taxes would be calculated based on the salvage value of the solar equipment, essentially nothing.