{"data":{"id":"us-tn/tenn.-code-ann.-67-4-701","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 67-4-701","heading":"Short title - Nature of tax - Legislative intent","body":"(a) 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.\n(b) 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.\n(c) 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.","path":["TN Code","Title 67","Chapter 4"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-17","retrieved_at":"2026-09-17T21:51:56Z","sha256":"71eac52c1dc7fc14bca1631832709b7dc55cf3b856ba46c6597020085fb473e3","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-67-4-606","next":"us-tn/tenn.-code-ann.-67-4-702","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"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.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-tn","title":"Tennessee Release 76 supplement","text":"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.","url":"https://archive.org/details/gov.tn.tca"}]},"notice":"GroundRules: Original legal text. Not legal advice."}