Tennessee § 67-5-217 - Property in transit.
Full text of Tennessee Tennessee Code Annotated § 67-5-217 — Property in transit., with citation guidance and answers to common questions.
§ 67-5-217. Property in transit.
Tangible personal property that: Is moving in interstate commerce through or over the territory of this state; or Was consigned to a warehouse within this state from outside this state, for storage, in transit, to a final destination, whether specified when transportation begins or afterwards, that is also outside this state, shall be deemed not to have acquired a situs in this state for purposes of ad valorem taxation. Tangible personal property transported to a plant, warehouse or establishment within this state, from outside this state, for storage or repackaging, and held for eventual sale or other disposition, other than at retail, to a destination, whether specified when transportation begins or afterwards, that is outside this state, shall be deemed not to have acquired a situs within this state for purposes of ad valorem taxation. In the event such tangible personal property mentioned in subdivision (b)(1) is held for sale or eventual disposition to destinations both within and without this state, then this exemption shall be applicable to that percentage of the value of such tangible personal property, in the same proportion that sales or other dispositions to final destinations outside of this state, during the preceding year, bears to the total sales or dispositions of such tangible personal property during such preceding year. Acts 1973, ch. 226, § 5; T.C.A., § 67-518. Textbooks. Tennessee Jurisprudence, 23 Tenn. Juris., Taxation, § 26.1.
Frequently Asked Questions About Tennessee § 67-5-217
What does Tennessee Code Annotated § 67-5-217 cover?
Section 67-5-217 ("Property in transit.") 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 § 67-5-217?
A common citation format is "Tennessee Code Annotated § 67-5-217" (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 § 67-5-217 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.