Tennessee § 59-13-142 - Exemption for subsidiaries.
Full text of Tennessee Tennessee Code Annotated § 59-13-142 — Exemption for subsidiaries., with citation guidance and answers to common questions.
§ 59-13-142. Exemption for subsidiaries.
All corporations organized as subsidiaries and controlled by any coal cooperative association formed in accordance with the laws of this state shall not be considered corporations organized for profit and doing business in Tennessee, or subject to any privilege tax levied by any law as a tax for the privilege of doing business for profit in Tennessee, it being the legislative intent to exempt by this section all such subsidiary corporations controlled by coal cooperative associations, where any and all profits earned by such subsidiary corporations are paid over to or expended for the benefit of such coal cooperative associations, with the result that the activities carried on by such corporations eventually promote and benefit the coal interest of this state. Acts 1984, ch. 864, § 46.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 59-13-142
What does Tennessee Code Annotated § 59-13-142 cover?
Section 59-13-142 ("Exemption for subsidiaries.") 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 § 59-13-142?
A common citation format is "Tennessee Code Annotated § 59-13-142" (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 § 59-13-142 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.