Tennessee § 56-4-301 Tax imposed

Tennessee Statutes

§ 56-4-301 — Tax imposed

Tennessee § 56-4-301

Title56

This text of Tennessee § 56-4-301 (Tax imposed) 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. § 56-4-301 (2026).

Text

(a)Every corporation, company, partnership, or individual writing, issuing, servicing and/or collecting installments on contracts now being written or issued or contracts heretofore written, issued and sold in this state, commonly known as income reserve contracts, installment investment trusts, including investors' syndicates, investment associations and the like, each of which is called an "investment company" in this part, or which corporation, company, partnership, or individual is engaged in servicing contracts now being issued or heretofore issued or collecting installments on the contracts, shall be deemed to be engaged in a business declared to be a privilege; and for the purpose of providing revenue for the state, there shall be levied against and collected from each investment c

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Every corporation, company, partnership, or individual writing, issuing, servicing and/or collecting installments on contracts now being written or issued or contracts heretofore written, issued and sold in this state, commonly known as income reserve contracts, installment investment trusts, including investors' syndicates, investment associations and the like, each of which is called an "investment company" in this part, or which corporation, company, partnership, or individual is engaged in servicing contracts now being issued or heretofore issued or collecting installments on the contracts, shall be deemed to be engaged in a business declared to be a privilege; and for the purpose of providing revenue for the state, there shall be levied against and collected from each investment company a special tax measured by gross profits or income, as defined in § 56-4-305 , of the investment company or that portion of the gross profits or income as shall be allocated to the state, as provided in this part. (b) Notwithstanding subsection (a), no tax under this part shall be imposed on any person registered as a broker or a dealer under §§ 3(a)(4) or (5) of the Securities Exchange Act of 1934 ( 15 U.S.C. § 78c(a)(4) or (a)(5) ), regardless of any related or incidental activities carried on by the person in connection with its business as a broker or a dealer.

Legislative History

Acts 1939, ch. 187, § 1; 1943, ch. 127, § 1; C. Supp. 1950, § 1248.33 (Williams, § 1248.160); Acts 1977, ch. 347, § 2; T.C.A. (orig. ed.), §§ 67-4401, 67-4-1201; Acts 2000, ch. 870, § 1.