WATCH: McNally Optimistic General Assembly Will Eliminate Professional Privilege Tax

Date: February 16, 2022

Speaking at this week’s NFIB Small Business Day, Lt. Gov. Randy McNally said he’s optimistic the legislature will finally eliminate Tennessee’s onerous professional privilege tax.

“This year might be the year that we get through finishing off the professional privilege tax,” McNally said. The $400 annual tax remains on seven professions, including attorneys, doctors, and investment advisers.   

Eliminating the professional privilege tax is one of NFIB’s top legislative priorities, State Director Jim Brown said. “No professional should be taxed simply for owning or running a business,” he said. “NFIB members believe strongly it’s a right, not a privilege, to go to work. We thank Lt. Gov. McNally for his comments and dedication to finish the job and end this discriminatory tax.”

Small Business Day took place on Tuesday, Feb. 15, at the Cordell Hull State Office Building across from the State Capitol in Nashville. 

Brown also chatted with former U.S. Sen. Bob Corker, who spoke about his 12 years in Congress as well as his tenure as mayor of Chattanooga. Corker said he agreed to speak at Small Business Day because of his long relationship with the National Federation of Independent Business.

Other speakers included “Inside Politics” host Pat Nolan and Tennessee Journal editor Erik Schelzig, who offered their perspectives on a host of issues including the upcoming midterm elections.

Later, NFIB members Connie Vaughan of McKee Foods, Hugh Morrow of Ruby Falls, and Peter Demos of Demos Brands joined Senior Grassroots Manager Elizabeth Parks in a panel discussion on the importance of engaging with state and federal legislators. 

Here are some of the other highlights from the event.

Related Content: Small Business News | Tennessee

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