At first, glance, paying taxes in Tennessee may seem simple. We’re lucky enough to be one of the few states that don’t have an income tax. Just because we’re deemed a “tax-friendly” state doesn’t mean complications or issues won’t pop up. Situations like operating a business, earning dividends on stocks, and even bein employed in certain occupations can affect the state taxes a Tennessean pays. Here’s what you need to know about Tennessee Tax Law.

Business Taxes In Tennessee

In many cases, Tennessee business owners must pay taxes on any items and services they sell or lease. This is true even for some out-of-state businesses that operate within Tennessee. Also, some cities have their own individual business taxes. We can help new businesses start on the right foot. Avoid potential penalties and legal repercussions by setting up an appointment with Slaughter Law Firm.

Hall Income Tax

The so-called Hall Income Tax imposes on certain investment income, including interest from bonds and dividends from stock. While the Hall As Income Tax phases out, you’ll still need to pay it this year. If you’re confused by the changes affecting Hall Income Tax or have previous year’s taxes to pay, we can help!

Professional Privilege Tax

If you are licensed or registered to practice certain occupations in Tennessee, you must pay the professional privilege tax each year. It is important to note that there have been recent changes to this tax law. If you’re just starting your career or changing occupations, you may be wondering if the Professional Privilege Tax applies to you. We can help you determine if you must pay this tax this year.

Tennessee Tax Law Attorney

We’ve covered just a few examples of current Tennessee tax laws. When it comes to business or personal taxes, and you’re ever wondering if you need a lawyer, you probably do! If you’d like to learn more about Tennessee tax matters, contact The Slaughter Law Firm for help. At Slaughter Law, we have over 21 years of experience in law. To schedule an appointment, visit us online here or call us at (423) 844-0560 today!