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TN SB2135
TN SB2135AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, Part 17, relative to taxation.
summary
Introduced
01/31/2022
01/31/2022
In Committee
Crossed Over
Passed
Dead
04/28/2022
04/28/2022
Introduced Session
112th General Assembly
Bill Summary
As introduced, phases out professional privilege tax over four-year period for tax years that begin on and after June 1, 2023; reduces tax by $100 per year over such period. - Amends TCA Title 67, Chapter 4, Part 17.
AI Summary
This bill phases out the professional privilege tax in Tennessee over a four-year period. The tax will be reduced by $100 per year, starting from the tax year beginning on June 1, 2023, until the tax is completely eliminated for any tax year ending on or after June 1, 2026. The bill also specifies that the tax shall not be levied on the privilege of engaging in a vocation, profession, business, or occupation listed in the existing law on or after June 1, 2026, but does not absolve any taxpayer of liability for the tax levied during any tax year ending before that date.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Refer to Senate F,W&M Revenue Subcommittee (on 02/15/2022)
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB2135&ga=112 |
| Fiscal Note - SB2135 | https://www.capitol.tn.gov/Bills/112/Fiscal/SB2135.pdf |
| BillText | https://www.capitol.tn.gov/Bills/112/Bill/SB2135.pdf |
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