Anheuser-Busch InBev Worldwide Inc., the global alcohol giant that owns Budweiser and Bud Light, filed a new lawsuit against Tennessee, seeking a refund of nearly $2 million in taxes paid in 2022 and 2023.
Filed in Davidson County Chancery Court on Friday, the company’s lawsuit seeks more than $1.8 million, plus interest, after Anheuser-Busch sent a refund request to the Tennessee Department of Revenue in August 2025. It names Tennessee Commissioner of Revenue David Gerregano as the defendant.
The filing appears to claim that Anheuser-Busch should be taxed under Tennessee Code Annotated (TCA) 67-4-2121, which provides that a manufacturer’s franchise tax is levied only on the first $2 billion of the company’s apportioned net worth.
According to the lawsuit, Anheuser-Busch paid more than $2 million in taxes to Tennessee for 2022 and 2023. The lawsuit implies the Volunteer State should refund nearly $1.9 million, leaving only about $127,000 paid by the global giant.
While the Anheuser-Busch website does not list a brewery in Tennessee, the state Department of Revenue’s guidance specifically states that a company’s manufacturing activities need not occur in Tennessee to qualify for the franchise tax cap. The company has breweries in nearby Georgia, Ohio, and Virginia.
Notably, 2023 was the year that Anheuser-Busch saw a temporary $27 billion blow to its stock valuation following its brand collaboration with the social media influencer Dylan Mulvaney, a biological man who identifies as a transgender woman.
The company ultimately suffered a 9.5 percent hit in American revenue in 2023, representing about $1.4 billion, and an 11.9 percent decrease in sales to retailers. Though the company’s stock price substantially recovered, Anheuser-Busch was still reporting its revenue in America was around 15 percent lower in 2025 than those posted prior to the collaboration with Mulvaney.
An industry analysis published earlier this month also estimated that Bud Light will sell only 12.7 million barrels in America in 2026, down from 15.8 million barrels in 2024.
Other analysts have noted an industry-wide decline in alcohol demand in recent years. Various factors have been blamed, ranging from the growing prevalence of weight loss drugs, cost-of-living increases, and a shift in attitude toward alcohol among young people.
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Tom Pappert is a 2025 recipient of the Dao Prize and the lead reporter for The Tennessee Star. He also reports for the Star News Network. Follow Tom on X. Email tips to [email protected].
