Tennessee § 67-4-2104 - Doing business in Tennessee a taxable privilege.

§ 67-4-2104. Doing business in Tennessee a taxable privilege.

Doing business in Tennessee by any person or taxpayer, and/or exercising the corporate franchise, are declared to be taxable privileges. The tax is an accrued tax and is imposed for the exercise of the specified privilege during the period that coincides with the tax year covered by the return required. Acts 1999, ch. 406, § 4. Compiler's Notes. Acts 1999, ch. 406, § 19(b) provided that §§ 67-4-2101 — 67-4-2120 shall apply to tax years ending on and after June 30, 1999, for limited liability companies, limited liability partnerships and limited partnerships, in which one or more corporations subject to franchise taxes under prior law directly or indirectly have in the aggregate an eighty percent (80%) or more ownership interest at any time after June 30, 1998; however, §§ 67-4-2101 — 67-4-2120 shall apply to tax years beginning on or after July 1, 1999, for all other taxpayers.