Tennessee Statutes
§ 67-5-1205 — Elements included in valuation of stock
Tennessee·Title 67
(a)The value of the corporate property and capital stock of each company subject to this part shall be construed as including all the tangible and intangible value of such company.
(b)The assessment and taxation of such corporate property and capital stock under this part shall be in lieu of the taxation of the income derived from such corporate property and capital stock and of the assessment and taxation of the shares of stock of such company as the personal property of its stockholders.
(c)No person shall be taxed on the income derived from any stock which constitutes a part of the capital stock of any insurance company which is itself subject to this part or which has a wholly-owned subsidiary which is subject to this part.
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Legislative History
Acts 1968, ch. 431, § 5; T.C.A., § 67-733.
Nearby Sections
15
§ 67-1-1001
Part definitions§ 67-1-1002
Grounds§ 67-1-1004
Ineffective against bona fide purchaser§ 67-1-1005
Duty to back assess or reassess - Citation§ 67-1-1006
Obtaining evidence§ 67-1-1008
Penalty and costs§ 67-1-1011
Records and reports§ 67-1-103
Study of tax laws - Report§ 67-1-104
Tax administration fund