Tennessee Bill Would Eliminate ‘Privilege Tax’ for More Professions

The Tennessee Legislature is considering the removal of a $400 annual “privilege tax” on certain professions in Tennessee.

The state levies an annual $400 professional privilege tax on individuals licensed or registered to practice in any of seven professions: attorneys, securities agents, broker-dealers, investment advisers, lobbyists, doctors and osteopathic physicians.

Senate Bill 884 would eliminate the tax for attorneys, physicians, investment advisers and lobbyists. Sen. John Stevens (R-Huntingdon) (pictured above) who sponsors the bill, said the legislation is likely to change as the Legislature continues budget negotiations in the coming weeks.

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