Tenn. Code Ann. § 67-4-701

Short title — Nature of tax — Legislative intent

Known as the Business Tax Act

Applied in 3 court decisions — leading case Nissan North America, Inc. v. Haislip (2004)

Most recently applied in Security Equipment Supply, Inc. v. Richard H. Roberts, Commissioner Of Revenue, State of Tennessee (November 2016)

Acts 1971, ch. 387, §§ 1, 21; 1972, ch. 850, § 1; T.C.A., §§ 67-5801, 67-5820; Acts 1984, ch. 832, § 26.

How often courts cite this section

citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(1) This part shall be known and may be cited as the “Business Tax Act” and the taxes imposed by this part shall be in addition to all other privilege taxes.

(2) It is the legislative intent that the taxes imposed by this part shall be in lieu of any or all ad valorem taxes on the inventories of merchandise held for sale or exchange by persons taxable under this part.

(3) It is the legislative intent, within the framework of this part, to recognize that there are limitations upon state taxation imposed by the constitutions of the United States and of this state and not to impose the tax where prohibited by the constitutions; but it is intended to impose that tax to the extent permitted under such constitutions and the words of imposition used in this section.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.