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Bill > SB0705
TN SB0705
TN SB0705AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, Part 17, relative to taxation.
summary
Introduced
01/26/2023
01/26/2023
In Committee
Crossed Over
Passed
Dead
04/25/2024
04/25/2024
Introduced Session
113th General Assembly
Bill Summary
As introduced, repeals the professional privilege tax for tax years that begin on and after June 1, 2024. - Amends TCA Title 67, Chapter 4, Part 17.
AI Summary
This bill repeals the professional privilege tax in Tennessee for tax years beginning on or after June 1, 2024. The professional privilege tax is a $400 annual fee paid by individuals licensed or registered for certain professions, such as lawyers, doctors, and accountants. The bill specifies that the tax will not be levied on these professions after May 31, 2024, though taxpayers will still be liable for any taxes owed during the 2023-2024 tax year or earlier.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Placed on Senate Finance, Ways, and Means Committee calendar for 4/23/2024 (on 04/19/2024)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0705&ga=113 |
| Fiscal Note - SB0705 | https://www.capitol.tn.gov/Bills/113/Fiscal/SB0705.pdf |
| BillText | https://www.capitol.tn.gov/Bills/113/Bill/SB0705.pdf |
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