No tax is due with respect to tangible personal property of a sole proprietorship that becomes the assets of a corporation resulting from the incorporation of such sole proprietorship. Any such transactions are not a taxable event and shall not be deemed to be a sale under this title.
Tenn. Code Ann. § 67-6-223
Property of proprietorship incorporated during tax period
Known as the Retailers' Sales Tax Act
The act spans §§ 67–67 (222 sections).
Applied in 1 court decision — leading case In Re Christenberry (2005)
Most recently applied in In Re Christenberry (December 2005)
Acts 1994, ch. 965, § 1.
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.