Senate Bill 1842, also known as House Bill 2363, amends Tennessee Code Annotated, Title 67, Chapter 4, Part 17, concerning the privilege tax for licensed professionals. The bill deletes the existing subsections (a) and (b) of Section 67-4-1703 and replaces them with new provisions. Under the new language, the annual privilege tax is set at four hundred dollars ($400) for individuals licensed in professions listed in subsections 67-4-1702(1) or (2), and two hundred dollars ($200) for those licensed in the profession listed in subsection 67-4-1702(3). The tax is due on June 1 each year, with any payments made after this date considered delinquent.

Additionally, the bill clarifies that individuals licensed in two or more professions are only required to pay one tax, either four hundred dollars ($400) for multiple professions in categories (1) or (2), or two hundred dollars ($200) if they are licensed in category (3) along with one or more professions in categories (1) or (2). This act will take effect upon becoming law and will apply to privilege taxes due after May 31, 2027.

Statutes affected:
Introduced: 67-4-1703