Get the free Professional Privilege Tax Affidavit - uthsc

This affidavit is used by part-time employees at the University of Tennessee to certify their eligibility for reimbursement of the professional privilege tax they have paid.

How to fill out professional privilege tax affidavit

How to fill out Professional Privilege Tax Affidavit

1. Obtain the Professional Privilege Tax Affidavit form from the relevant state or local tax authority's website or office.
2. Fill in your personal information in the designated fields, including your name, address, and contact information.
3. Indicate your profession and the license number associated with your professional practice.
4. Provide details regarding your income for the reporting period, if applicable.
5. Sign and date the affidavit to certify that the information provided is accurate.
6. Submit the completed affidavit by the required deadline through the indicated submission method (online, mail, in-person).
7. Keep a copy of the submitted affidavit for your records.

Who needs Professional Privilege Tax Affidavit?

1. Any professional who is required to pay a professional privilege tax, often including but not limited to attorneys, accountants, doctors, and other licensed professionals.

People Also Ask about

How many states have a professional privilege tax?

State Privilege (Professional Privilege) Tennessee is currently the only state that requires this tax. It's levied on professionals and is separate from state licensure fees and other costs. Payment is typically required annually for the right to practice within a state.

What states are professional services taxable?

Currently, only Hawaii, New Mexico, and South Dakota levee a sales tax on professional services. Two states, Florida and Connecticut, implemented a professional services sales tax during the 1980's only to repeal them due to public outcry. Disseminating testimony, articles, studies, and talking points on the issue.

How much is Tennessee professional privilege tax?

State law requires all professional privilege tax returns to be filed electronically. Taxable professionals holding an active license in Tennessee must pay the $400 tax, which is due June 1 each year.

What states have a professional privilege tax?

Privilege tax types: Comparison chart Type of Privilege TaxParticipating State(s) Franchise tax Alabama Arkansas California* Delaware Georgia Illinois Louisiana Mississippi New York North Carolina Oklahoma Tennessee Texas Transaction privilege tax (TPT) Arizona State privilege tax (or professional privilege tax) Tennessee1 more row • Jul 20, 2021

How many states have a professional privilege tax?

State Privilege (Professional Privilege) Tennessee is currently the only state that requires this tax. It's levied on professionals and is separate from state licensure fees and other costs. Payment is typically required annually for the right to practice within a state.

How to pay Tennessee professional privilege tax?

0:05 1:19 Information and hit submit. Be sure to print a copy of your confirmation.MoreInformation and hit submit. Be sure to print a copy of your confirmation.

How many states have business personal property tax?

Filing property tax returns is the first hurdle your company must overcome if you do business in any of the 37 states that tax tangible personal property. The number of states swells to 41 when you include those that require utility companies and certain other large businesses to file returns at the state level.

What states have transaction privilege tax?

Transaction privilege tax (TPT) refers to a gross receipts tax levied by the state of Arizona on certain persons for the privilege of conducting business in the state.

What is a privilege fee?

Privilege Fee means the fee paid to the Aviation Authority for the granting by the Aviation Authority of a franchise to engage in the business of operating the Concession within facilities operated and controlled by the Aviation Authority, which right is an intrinsically valuable intangible personal property interest,

What is a privilege tax example?

A privilege tax is a tax levied in exchange for a privilege or license granted to the taxpayer. The fee for registering a motor vehicle is one example of a privilege tax. Many taxes on businesses are characterized as privilege taxes. For example, Arizona's transaction privilege tax is a gross receipts tax on business.

For pdfFiller’s FAQs

What is Professional Privilege Tax Affidavit?

The Professional Privilege Tax Affidavit is a document that individuals in certain professions must complete to report and pay an annual tax levied on their professional status.

Who is required to file Professional Privilege Tax Affidavit?

Professionals such as doctors, lawyers, accountants, and other licensed individuals who earn income from their profession are typically required to file the Professional Privilege Tax Affidavit.

How to fill out Professional Privilege Tax Affidavit?

To fill out the Professional Privilege Tax Affidavit, individuals must provide personal information including their name, address, profession, and confirm their income status, and submit it along with the required tax payment.

What is the purpose of Professional Privilege Tax Affidavit?

The purpose of the Professional Privilege Tax Affidavit is to ensure compliance with state regulations regarding licensed professionals and to facilitate the collection of the annual professional privilege tax.

What information must be reported on Professional Privilege Tax Affidavit?

The information that must be reported includes the individual's name, profession, address, and the tax amount owed based on their professional status, along with any relevant license numbers.