2019 Tennessee Code
Title 67 - Taxes and Licenses
Chapter 2 - Income Taxation
§ 67-2-124. Effect of reduction to rate of tax -- Annual reduction of tax -- Elimination of tax.

Universal Citation: TN Code § 67-2-124 (2019)
  • (a) The reduction to the rate of tax made by chapter 1064 of the Public Acts of 2016 shall not be construed to absolve any taxpayer of liability for any tax duly levied by this chapter, during a tax year that began prior to January 1, 2016.

  • (b) It is the legislative intent that the tax be reduced by one percent (1%) annually through enactments of general bills beginning with the first annual session of the 110th general assembly.

  • (c) The income tax levied by this chapter is eliminated for tax years that begin on or after January 1, 2021; provided, however, that this subsection (c) shall not be construed to absolve any taxpayer of liability for any tax duly levied by this section, during a tax year that began prior to January 1, 2021.

Disclaimer: These codes may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.