Taxes, Privilege - As introduced, reduces professional privilege tax from $400 to $200 per year for attorneys in tax years that begin on and after June 1, 2027. - Amends TCA Title 67, Chapter 4, Part 17.

SB 1842 reduces the annual professional privilege tax for attorneys in Tennessee from $400 to $200 per year. This change directly affects licensed attorneys who pay the tax under Tennessee Code §67-4-1702(1) or (2), applying to tax years beginning on or after June 1, 2027. The bill amends Tennessee Code Title 67, Chapter 4, Part 17, to update the tax rate while maintaining the June 1 payment deadline. The policy change simplifies the tax burden for attorneys without altering the filing requirements or other tax categories.