House Bill 189 amends Tennessee Code Annotated, specifically Section 67-4-1703, regarding the privilege tax on various professions. The bill establishes 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 eliminated to $0 for tax years ending after that date. Additionally, individuals licensed for multiple professions will only be required to pay one tax as specified.

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, it clarifies that taxpayers remain liable for any taxes that were duly levied during tax years ending before this 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