Professional Privilege Tax ReminderThe Tennessee Securities Division
Professional Privilege Tax Reminder
Pursuant to Tennessee Code Annotated 67-4-1701 et seq., certain licensed and/or registered professionals, including BROKER-DEALERS, BROKER-DEALER AGENTS, and INVESTMENT ADVISERS, are subject to an annual $400.00 Professional Privilege Tax. This tax is in addition to any registration or renewal fees under the Tennessee Securities Act of 1980, and is collected separately by the Tennessee Department of Revenue. The Professional Privilege Tax is due on June 1 of each year.
The Tennessee Securities Division “shall not process and shall hold in abeyance the application for renewal of the license or registration of any taxpayer” who fails to pay this tax. Tenn. Code Ann. § 67-4-1704(d).
DO NOT SEND PROFESSIONAL PRIVILEGE TAX RETURNS OR PAYMENTS TO THE TENNESSEE SECURITIES DIVISION OR THE NASAA/FINRA CENTRAL REGISTRATION DEPOSITORY.
For more information regarding the Professional Privilege Tax:
Contact: Tennessee Department of Revenue
Phone Number: 615-253-0600, 615-741-4465, or 800-342-1003 (Toll Free)
Andrew Jackson Building
500 Deaderick Str.
Nashville, TN 37242
Contact: Revenue Support