Tennessee § 67-4-707 Bond for certain foreign businesses

Tennessee Statutes

§ 67-4-707 — Bond for certain foreign businesses

Tennessee § 67-4-707

Title67

This text of Tennessee § 67-4-707 (Bond for certain foreign businesses) 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. § 67-4-707 (2026).

Text

(a)Persons described in § 67-4-708(4)(A) who are domiciled in a state other than this state shall, upon making application for a business tax license, execute and file a bond to, or establish an escrow account with, the county or municipality. Such bond shall be executed by two (2) good and sufficient sureties, approved by the county or municipal clerk, or by a surety company duly authorized to do business in this state. Such bond or escrow account shall be in an amount sufficient to pay such person's anticipated business tax liability for the balance of the tax period for which such license applies, such liability to be determined by the county or municipal clerk, and may be called by the state in the event of failure by such person to pay such tax as may be due.

(b)Notwithstanding subs

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(a) Persons described in § 67-4-708(4)(A) who are domiciled in a state other than this state shall, upon making application for a business tax license, execute and file a bond to, or establish an escrow account with, the county or municipality. Such bond shall be executed by two (2) good and sufficient sureties, approved by the county or municipal clerk, or by a surety company duly authorized to do business in this state. Such bond or escrow account shall be in an amount sufficient to pay such person's anticipated business tax liability for the balance of the tax period for which such license applies, such liability to be determined by the county or municipal clerk, and may be called by the state in the event of failure by such person to pay such tax as may be due. (b) Notwithstanding subsection (a), any county or municipality may, but shall not be required to, enter an agreement with the commissioner pursuant to which the bond or escrow account required by subsection (a) will be filed with the commissioner rather than the county or municipality.

Legislative History

Amended by 2013 Tenn. Acts, ch. 313, s 6, eff. 1/1/2014. Acts 1971, ch. 387, § 6; 1972, ch. 850, § 6; 1977, ch. 328, §§ 1, 2; 1978, ch. 714, § 4; 1978, ch. 781, § 1; 1979, ch. 325, § 1; 1981, ch. 308, § 1; 1983, ch. 394, § 3; 1983, ch. 415, § 1; T.C.A., § 67-5806; Acts 2009 , ch. 530, § 73.