Under TCA 67-4-1709, the professional privilege tax is due June 1 each year for individuals licensed or registered to practice in Tennessee for the following professions:
Attorney
Agent(Securities)
Broker-Dealer
Investment Adviser
Lobbyist
For those so licensed, Tennessee Tech University will remit this for you. The amount of tax will be included as additional compensation on each affected employee’s W-2. If you are registered or licensed to practice in more than one of the following professions, you are only required to pay the $400 tax once per year.
TTU must report to the Department of Revenue the names and professions of eligible employees no later than June 1, 2023. Those eligible must currently be in an active status in their profession.
Please provide the names and professions of anyone in your area of responsibility to Dustin Agee at dagee@tntech.edu or Jenni Roberts at jaroberts@tntech.edu at your earliest convenience, but not later than May 15, 2023. I will compile a master list to transmit to the State.
Thank you for your assistance.