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SEE NEW POST-WAYFAIR GUIDANCE FOR SALES TAX COLLECTION FROM OUT-OF-STATE DEALERS HERE
New professional privilege tax exemptions are effective June 1, 2020. Click here for more information.

Gift Tax

Overview

The Tennessee gift tax was repealed effective January 1, 2012. This means that any gift given after that date is not subject to the tax.  However, gift tax is still owed on gifts given prior to January 1, 2012, if the amount of gifts given was more than the allowable exemption for that year.