Tennessee § 56-4-306 - Allocation — Companies doing business outside state.
Full text of Tennessee Tennessee Code Annotated § 56-4-306 — Allocation — Companies doing business outside state., with citation guidance and answers to common questions.
§ 56-4-306. Allocation — Companies doing business outside state.
The portion of the gross profits or income of the investment company to be allocated to the state where the investment company is engaged in business or operating partly within and partly without the state shall be the proportion of the gross profits or income of the investment company determined by dividing the gross amount received, during the year for which the tax is payable, from members, certificate holders or contract holders of the investment company who reside within the state, by the gross amount received during the year from all the members, certificate holders or contract holders, as the case may be, of the investment company, whether the members, certificate holders or contract holders reside within or without this state. Acts 1939, ch. 187, § 3; C. Supp. 1950, § 1248.35 (Williams, § 1248.162); T.C.A. (orig. ed.), §§ 67-4405, 67-4-1206.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-4-306
What does Tennessee Code Annotated § 56-4-306 cover?
Section 56-4-306 ("Allocation — Companies doing business outside state.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 56-4-306?
A common citation format is "Tennessee Code Annotated § 56-4-306" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 56-4-306 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.