Tennessee § 67-6-516 Delinquencies and other violations - Penalties - Grace period

Tennessee Statutes

§ 67-6-516 — Delinquencies and other violations - Penalties - Grace period

Tennessee § 67-6-516

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This text of Tennessee § 67-6-516 (Delinquencies and other violations - Penalties - Grace period) 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. § 67-6-516 (2026).

Text

When an examination of a dealer's books and records indicates that the dealer is deficient in paying the proper tax due for a month, but has paid more tax than is actually due for another month, or is deficient in paying the proper tax on one (1) or more transactions within a month, but has paid more tax than is actually due on other transactions during the same month, or has erroneously paid tax to another dealer, the overpayment or erroneous payment shall be applied to the deficiency before computing any interest and penalty due as a result of such examination, the earliest overpayments offsetting the earliest underpayments for this purpose, and the penalty, if any, being computed on the amounts of underpayments not offset by overpayments.

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When an examination of a dealer's books and records indicates that the dealer is deficient in paying the proper tax due for a month, but has paid more tax than is actually due for another month, or is deficient in paying the proper tax on one (1) or more transactions within a month, but has paid more tax than is actually due on other transactions during the same month, or has erroneously paid tax to another dealer, the overpayment or erroneous payment shall be applied to the deficiency before computing any interest and penalty due as a result of such examination, the earliest overpayments offsetting the earliest underpayments for this purpose, and the penalty, if any, being computed on the amounts of underpayments not offset by overpayments.

Legislative History

Acts 1947, ch. 3, § 8; 1949, ch. 245, § 3; C. Supp. 1950, § 1248.66 (Williams, § 1328.30); Acts 1965, ch. 4, § 1; 1969, ch. 164, §§ 1, 2; 1970, ch. 360, § 1; 1977, ch. 64, § 1; 1980, ch. 885, § 13; 1983, ch. 238, §§ 1, 2; T.C.A. (orig. ed.), § 67-3026; Acts 1985, ch. 396, § 5; 1988, ch. 526, § 37.