Imposes a 5% assessment on secondary ticket sales for live music events in Tennessee, effective July 1, 2027.
The Tennessee Live Music Support Act imposes a 5% assessment on the sales price of all tickets sold at retail through the secondary ticketing market for live music and performance events in Tennessee, effective July 1, 2027. This assessment is due monthly and collected by the Department of Revenue, which will deposit the funds into the live music and performance venue fund. The assessment applies to third-party ticket resellers, not individual users, and penalties apply for noncompliance. The act also allows the Department of Revenue to promulgate rules to effectuate this part.
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