Taxes, Sales - As introduced, requires the commissioner of revenue to establish a sales tax remittance schedule that allows dealers making sales to reasonably offset the burden of transaction fees associated with the collection of sales tax. - Amends TCA Title 67, Chapter 6.

HB 714 requires Tennessee's commissioner of revenue to create a new sales tax remittance schedule that allows dealers (businesses collecting sales tax) to hold collected tax payments longer. This extended holding period lets dealers offset card processing fees they pay on transactions - including the sales tax portion - before remitting funds to the state. The schedule's length is calculated using specific factors: last year's total sales tax remittance, the percentage of card transactions, state fees for card payments, and the federal funds rate. The bill does not change current tax collection methods but adjusts the remittance timeline to help dealers recoup fees. It applies directly to Tennessee businesses selling tangible goods and collecting sales tax.