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Tennessee DOR Extends Privilege Tax Deadline

Dated Apr. 7, 2020

Citations: Notice No. 20-11

SUMMARY BY TAX ANALYSTS

The Tennessee Department of Revenue issued a notice announcing that in response to COVID-19 and the governor's executive order, the deadlines for paying the state's professional privilege tax have been extended from June 1, 2020, to July 1, 2020; the tax is levied on some investment advisors, doctors, attorneys, and lobbyists.

Tax Filing and Payment Extension: COVID-19 Relief

April 2020

Filing Extension for Professional Privilege Tax

The Tennessee Department of Revenue has extended the due date for filing and paying the professional privilege tax from June 1, 2020 to July 1, 2020.

Interest and late filing penalties will not be applied to returns filed and payments made on or before this extended due date.

Professions Subject to Professional Privilege Tax

Beginning this year, only the following professions, which are licensed in Tennessee, are subject to professional privilege tax:

  • agents, broker-dealers, and investment advisors registered under Title 48 of the Tennessee Code;

  • attorneys;

  • lobbyists; and

  • physicians and osteopathic physicians.

All other professions previously subject to the professional privilege tax are now exempt.

For More Information

Visit www.tn.gov/revenue. Click on Revenue Help to search for answers or to submit an information request to one of our agents.

References

Tenn. Code Ann. § 67-1-114; Tenn. Code Ann. § 67-4-1702; Public Chapter 478 (2019).

Disclaimer: The information provided here is current as of the date of publication but may change as a result of new statutes, regulations, or court decisions. While this notice is intended to be comprehensive, events and situations unanticipated by this notice may occur. In such cases you should contact the department or your tax professional for further guidance.

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