CFP Board Joins Coalition Urging Repeal of Tennessee’s Professional Privilege Tax

CFP Board joined a coalition of leading trade and professional associations in sending a letter to Tennessee Governor Bill Lee, urging a phaseout of the state’s annual $400 Professional Privilege Tax (PPT) that is imposed on financial professionals.

The letter underscores the significant role CFP® professionals and others play in Tennessee’s economy, while noting that the PPT remains an outdated tax on work that increases costs for professionals and the clients they serve. The demand for financial advice continues to grow, and the state should prioritize efforts to improve the financial security of everyday Tennesseans.

CFP Board supports sound policies that increase the number of CFP® professionals and expand access to ethical, competent financial planning. We look forward to working with the Governor’s office and the state legislature to repeal this burdensome tax.

To read the full letter, please click here.