§ 43-16-145 — Annual fee in lieu of other taxes - Exception

Each association organized under this chapter shall pay an annual fee of ten dollars ($10.00) only, in lieu of all franchise, license, corporation or other privilege taxes, or taxes or charges upon reserves held by it for members; provided, that if any association organized under this chapter sells to persons other than its own members any product or merchandise other than unmanufactured tobacco, livestock, poultry products, dairy products or any other farm products, such association shall be liable for any privilege tax with respect to such transactions or method of doing business imposed under the laws of Tennessee, other than franchise and excise taxes and corporation filing fees or charges upon reserves held by it for members.

Legislative History

Acts 1923, ch. 100, § 30; Shan. Supp., § 2534a72; Code 1932, §3828; Acts 1947, ch. 172, § 1; C. Supp. 1950, § 3828; T.C.A. (orig. ed.), § 43-1846.