| 1 | 1 | | |
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| 2 | 2 | | HOUSE BILL 189 |
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| 3 | 3 | | By Gant |
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| 4 | 4 | | |
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| 5 | 5 | | SENATE BILL 397 |
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| 6 | 6 | | By Rose |
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| 7 | 7 | | |
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| 8 | 8 | | |
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| 9 | 9 | | SB0397 |
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| 10 | 10 | | 001769 |
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| 11 | 11 | | - 1 - |
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| 12 | 12 | | |
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| 13 | 13 | | AN ACT to amend Tennessee Code Annotated, Title 67, |
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| 14 | 14 | | Chapter 4, Part 17, relative to taxation. |
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| 15 | 15 | | |
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| 16 | 16 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
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| 17 | 17 | | SECTION 1. Tennessee Code Annotated, Section 67-4-1703, is amended by deleting |
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| 18 | 18 | | subsections (a) and (b) and substituting instead the following: |
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| 19 | 19 | | (a) |
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| 20 | 20 | | (1) For purposes of this part, the tax year begins on June 1 of each year |
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| 21 | 21 | | and ends on May 31 of the following year. The privilege tax established by this |
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| 22 | 22 | | part is due and payable on June 1 of each tax year. Taxes paid after June 1 are |
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| 23 | 23 | | delinquent. |
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| 24 | 24 | | (2) The privilege tax imposed by this part is: |
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| 25 | 25 | | For a tax year ending on or before May 31, 2026 $400 |
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| 26 | 26 | | For a tax year ending after May 31, 2026 $0 |
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| 27 | 27 | | (b) A person who is licensed or registered for two (2) or more professions taxed |
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| 28 | 28 | | pursuant to this part is not required to pay more than one (1) tax in an amount set by |
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| 29 | 29 | | subsection (a). |
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| 30 | 30 | | SECTION 2. Tennessee Code Annotated, Section 67-4-1703, is amended by adding |
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| 31 | 31 | | the following new subsection: |
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| 32 | 32 | | (e) The tax shall not be levied upon the privilege of engaging in a vocation, |
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| 33 | 33 | | profession, business, or occupation listed in ยง 67-4-1702 on or after June 1, 2026. This |
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| 34 | 34 | | subsection (e) does not absolve a taxpayer of liability for a tax duly levied by this part |
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| 35 | 35 | | during a tax year ending before June 1, 2026. |
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| 36 | 36 | | |
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| 37 | 37 | | |
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| 38 | 38 | | - 2 - 001769 |
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| 39 | 39 | | |
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| 40 | 40 | | SECTION 3. This act takes effect upon becoming a law, the public welfare requiring it, |
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| 41 | 41 | | and applies to privilege taxes due and payable after May 31, 2026. |
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