Tennessee DOR Issues Information on Professional Privilege Tax Applicability, Sales, Excise, Franchise Tax Filing Deadlines

The Tennessee Department of Revenue (DOR) Oct. 1 issued a revenue review containing tax-related information for corporate income, sales and use, and excise taxpayers. The information includes that beginning June 1, 2023, only certain professions will be subject to the professional privilege tax. The new list of professions includes: 1) lobbyists; 2) agents, broker-dealers, and investment advisors registered under Title 48 of the Tennessee Code, “Corporations and Associations;" and 3) attorneys. The DOR also provides the upcoming quarterly, monthly, and annual filing due dates for major state taxes. [Tenn. Dep’t of Revenue, Revenue Review, 10/01/2022]

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