Tennessee Enhances Privilege Tax Reporting, Oversight

The Tennessee Governor signed a law amending provisions of the Tennessee Code Annotated relating to privilege tax. The law establishes comprehensive reporting requirements and enhances oversight of privilege tax collection by court clerks. The law also requires quarterly reporting to revenue commissioners and state treasurers. The law takes effect immediately, but applies to privilege tax imposition and collection beginning July 1. [H.B. 878, enacted 04/16/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.