There is exempt from the tax imposed by this chapter the sale, transfer, or lease of construction machinery, as defined in § 67-6-102, to or from a parent corporation and a wholly-owned subsidiary to the extent that sales or use tax at the full rate provided by Tennessee law has been previously paid on such machinery by such parent or subsidiary corporation.
Tenn. Code Ann. § 67-6-311
Construction machinery transferred between parent and subsidiary corporations
Known as the Retailers' Sales Tax Act
The act spans §§ 67-6-101 to 67-6-907 (222 sections).
Acts 1947, ch. 3, § 6; 1949, ch. 245, § 2; C
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.