Section 1320-03-02-.01 - INCOME(1) Income is considered to be received for the purpose or the law when:(a) It is actually paid in cash;(b) Check or other negotiable instrument, or equivalent, is mailed to taxpayer, regardless of date received;(c) When credited upon the books of a bank, banking institution, broker or any agent of the taxpayer;(d) When payment is made in merchandise or other commodities of intrinsic value.Tenn. Comp. R. & Regs. 1320-03-02-.01
Original rule certified June 7, 1974.Authority: T.C.A. §§ 67-1-102 and 67-2-113.