GroundRules
Tenn. Code Ann. § 56-4-402: Nature of tax - Exemption from other taxes
Where this section sits in the code
- TN Code
- Title 56
- Chapter 4
(a) The business declared to be taxable in this part is for state purposes only and taxable by the state alone and no county or municipality may impose any taxes upon the business, except ad valorem taxes upon real estate and tangible personal property owned by the production credit association.
(b) The tax shall be in lieu of, and in substitution for, any and all other taxes levied against or on the association, except ad valorem taxes upon real estate and tangible personal property owned by the association.
(c) Nothing in this section shall be construed to provide an exemption from the sales and use tax imposed by title 67, chapter 6.
Collected 2026-09-17T21:51:56Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Tennessee electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 76 only as a labeled supplement to the newer Open US Law rows. Source