TCA § 67-2-102 — Imposition, rate and collection of tax

An income tax shall be levied and collected annually on incomes derived by way of dividends from stocks or by way of interest on bonds of each person, partnership, association, trust and corporation in the state of Tennessee who received, or to whom accrued, or to whom was credited during any year income from the sources enumerated in this section, except as otherwise provided in this chapter. The rate of the tax imposed by this chapter shall be: For any tax year that begins on or after January 1, 2017, and prior to January 1, 2018, four percent (4%); For any tax year that begins on or after January 1, 2018, and prior to January 1, 2019, three percent (3%); For any tax year that begins on or after January 1, 2019, and prior to January 1, 2020, two percent (2%); For any tax year that begins on or after January 1, 2020, and prior to January 1, 2021, one percent (1%); and For any tax year that begins on or after January 1, 2021, and for subsequent tax years, zero percent (0%).