Tennessee § 45-3-901 - Applicable taxes and exemptions.
Full text of Tennessee Tennessee Code Annotated § 45-3-901 — Applicable taxes and exemptions., with citation guidance and answers to common questions.
§ 45-3-901. Applicable taxes and exemptions.
Associations shall be subject to the franchise and excise taxes as set forth in title 67, chapter 4, parts 8 and 9 respectively, and the taxes shall be in lieu of and substitution for any and all other taxes previously levied against or on the associations; except ad valorem taxes upon real estate and tangible personal property owned by the associations and, for taxable periods beginning on and after midnight June 30, 1977, the franchise and excise taxes as set forth in title 67, chapter 4, parts 8 and 9 respectively. Members' savings accounts shall not be treated as capital stock in the franchise tax base set forth in title 67, chapter 4, part 9. The exemption from other taxes shall include taxes upon or for the use of the capital, notes, reserves, surplus, loans, accounts, and other income and profits of the associations, including income tax upon members, shareholders or account-holders, who receive dividends from the associations, and all privilege taxes of every kind imposed by the state of Tennessee. Nothing in this section shall be construed as relieving state associations of the expense of examinations as provided by § 45-3-1003(f) . Acts 1939, ch. 60, § 4; C. Supp. 1950, § 3898.61 (Williams, § 3918.12); Acts 1977, ch. 85, § 4; impl. am. Acts 1978, ch. 708, §§ 1.23, 3.12; T.C.A. (orig. ed.), § 45-1504; Acts 1984, ch. 558, § 2; T.C.A., § 45-3-904 . Code Commission Notes. This section was renumbered from § 45-3-904 to § 45-3-901 by the authority of the Code Commission in 2020. Cross-References. Excise tax, imposition upon savings and loan associations, § 67-4-2007 . Textbooks. Tennessee Jurisprudence, 22 Tenn. Juris., Savings and Loan Associations, § 10.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-3-901
What does Tennessee Code Annotated § 45-3-901 cover?
Section 45-3-901 ("Applicable taxes and exemptions.") 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 § 45-3-901?
A common citation format is "Tennessee Code Annotated § 45-3-901" (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 § 45-3-901 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.