Amends TCA Title 8, Chapter 21, Part 7; Section 50-6-904 and Title 67, Chapter 4, Part 7.

Present law generally requires county clerks and municipal officials to collect fees for, and issue, business tax licenses. The clerks and municipal officials are authorized to retain $3.00 of the $15.00 business tax license fee. Present law authorizes county clerks and municipal officials to enter an agreement with the commissioner of revenue pursuant to which the department of revenue will issue business tax licenses of behalf of a county or municipality.<br /> <br /> This bill transfers all responsibility for issuance of business tax licenses to the department. The department will retain $3.00 of the business tax license fee to cover its administrative expenses and the remaining proceeds of the fee will be distributed to the county or municipality where the taxpayer is located. In the case of transferred business tax licenses, the department will retain $1.00 of the $5.00 fee.<br /> <br /> This bill takes effect January 1, 2024.<br />