Tennessee § 67-4-707 - Bond for certain foreign businesses.
Full text of Tennessee Tennessee Code Annotated § 67-4-707 — Bond for certain foreign businesses., with citation guidance and answers to common questions.
§ 67-4-707. Bond for certain foreign businesses.
Persons described in § 67-4-708(4)(A) who are domiciled in a state other than the state of Tennessee shall, upon making application for a business tax license, execute and file a bond to, or establish an escrow account with, the county or municipality. Such bond shall be executed by two (2) good and sufficient sureties, approved by the county or municipal clerk, or by a surety company duly authorized to do business in this state. Such bond or escrow account shall be in an amount sufficient to pay such person's anticipated business tax liability for the balance of the tax period for which such license applies, such liability to be determined by the county or municipal clerk, and may be called by the state in the event of failure by such person to pay such tax as may be due. Notwithstanding subsection (a), any county or municipality may, but shall not be required to, enter an agreement with the commissioner pursuant to which the bond or escrow account required by subsection (a) will be filed with the commissioner rather than the county or municipality. Acts 1971, ch. 387, § 6; 1972, ch. 850, § 6; 1977, ch. 328, §§ 1, 2; 1978, ch. 714, § 4; 1978, ch. 781, § 1; 1979, ch. 325, § 1; 1981, ch. 308, § 1; 1983, ch. 394, § 3; 1983, ch. 415, § 1; T.C.A., § 67-5806; Acts 2009, ch. 530, § 73; 2013, ch. 313, § 6. Compiler's Notes. Acts 2013, ch. 313, § 1 provided that the act, which amended this section, shall be known and may be cited as the “Uniformity and Small Business Relief Act of 2013.” Acts 2013, ch. 313, § 23 provided that the act, which amended this section, shall apply to tax periods that begin on or after January 1, 2014. Amendments. The 2013 amendment, effective January 1, 2014, added (b). Effective Dates. Acts 2013, ch. 313, § 23. January 1, 2014. Cross-References. Actions on license bonds, § 67-4-112 . Law Reviews. Selected Tennessee Legislation of 1983 (N. L. Resener, J. A. Whitson, K. J. Miller), 50 Tenn. L. Rev. 785 (1983).
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 67-4-707
What does Tennessee Code Annotated § 67-4-707 cover?
Section 67-4-707 ("Bond for certain foreign businesses.") 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 § 67-4-707?
A common citation format is "Tennessee Code Annotated § 67-4-707" (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 § 67-4-707 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.