Tennessee § 56-4-220 Exemption of life insurance and annuity premiums

Tennessee Statutes

§ 56-4-220 — Exemption of life insurance and annuity premiums

Tennessee § 56-4-220

Title56

This text of Tennessee § 56-4-220 (Exemption of life insurance and annuity premiums) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 56-4-220 (2026).

Text

(a)The rate of taxation shall be zero (0) on all premiums or considerations under life insurance policies or annuity contracts issued in connection with any pension plan, annuity plan or profit-sharing plan qualified for federal income tax advantages under the Internal Revenue Code of 1954, part I, subchapter D, subtitle A ( 26 U.S.C. § 401 et seq.), or to any trust qualified for income tax advantages under the Internal Revenue Code of 1954, § 501(a) ( 26 U.S.C. § 501(a) ).

(b)This section is declared to be remedial in nature and to that end shall apply to all such life insurance policies, annuity contracts or trusts occurring on or after January 1, 1988.

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(a) The rate of taxation shall be zero (0) on all premiums or considerations under life insurance policies or annuity contracts issued in connection with any pension plan, annuity plan or profit-sharing plan qualified for federal income tax advantages under the Internal Revenue Code of 1954, part I, subchapter D, subtitle A ( 26 U.S.C. § 401 et seq.), or to any trust qualified for income tax advantages under the Internal Revenue Code of 1954, § 501(a) ( 26 U.S.C. § 501(a) ). (b) This section is declared to be remedial in nature and to that end shall apply to all such life insurance policies, annuity contracts or trusts occurring on or after January 1, 1988.