Tennessee House approves new tax on overseas money wires aimed at immigrant transactions

By: Anita Wadhwani

Outlets: Tennessee Lookout

Published: April 9, 2026

Words: 274

Last Updated: 2 months, 2 weeks ago

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Without debate, the Tennessee House adopted a new tax on international money wire transfers aimed at generating state revenue primarily from funds that immigrants living in Tennessee send overseas.

The proposed legislation (HB2502/SB2166) by House Speaker Cameron Sexton of Crossville and Sen. Bo Watson of Hixson — both Republicans — would impose a $10 per-transaction tax on overseas money transfers or 2% of the total transmitted in excess of $500.

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