Tennessee § 57-4-303 Settlement of tax on quitting business

Tennessee Statutes

§ 57-4-303 — Settlement of tax on quitting business

Tennessee § 57-4-303

Title57

This text of Tennessee § 57-4-303 (Settlement of tax on quitting business) 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. § 57-4-303 (2026).

Text

If any licensee liable for any tax, interest or penalty levied hereunder shall sell the business or stock of goods, or shall quit the business, the licensee shall make a final return and payment within fifteen (15) days after the date of selling or quitting the business. The successor, successors or assigns, if any, shall withhold sufficient of the purchase money to cover the amount of such taxes, interest and penalties due and unpaid until such former owner shall produce a receipt from the commissioner showing that they have been paid, or a certificate stating that no taxes, interest or penalties are due. If the purchaser of a business or stock of goods shall fail to withhold the purchase money, the purchaser shall be personally liable for the payment of the taxes, interest, and penalties

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

If any licensee liable for any tax, interest or penalty levied hereunder shall sell the business or stock of goods, or shall quit the business, the licensee shall make a final return and payment within fifteen (15) days after the date of selling or quitting the business. The successor, successors or assigns, if any, shall withhold sufficient of the purchase money to cover the amount of such taxes, interest and penalties due and unpaid until such former owner shall produce a receipt from the commissioner showing that they have been paid, or a certificate stating that no taxes, interest or penalties are due. If the purchaser of a business or stock of goods shall fail to withhold the purchase money, the purchaser shall be personally liable for the payment of the taxes, interest, and penalties accruing and unpaid on account of the operation of the business by any former owner, owners, or assigns.