House Bill 189, also known as Senate Bill 397, amends Tennessee Code Annotated, Title 67, Chapter 4, Part 17, concerning taxation. The bill modifies the existing provisions regarding the privilege tax by deleting subsections (a) and (b) and replacing them with new language. The new provisions establish that the tax year will run from June 1 to May 31 of the following year, with the privilege tax due on June 1. The tax amount is set at $400 for tax years ending on or before May 31, 2026, and will be $0 for tax years ending after that date. Additionally, individuals licensed for multiple professions will only be required to pay one tax.

Furthermore, the bill introduces a new subsection (e), which states that the privilege tax will not be levied on any vocation, profession, business, or occupation listed in Section 67-4-1702 after June 1, 2026. However, this provision does not relieve taxpayers of their liability for taxes that were duly levied for tax years ending before that date. The act will take effect upon becoming law and will apply to privilege taxes due after May 31, 2026.

Statutes affected:
Introduced: 67-4-1703