Tenn. Comp. R. & Regs. 1320-04-05-.23
Current through October 22, 2024
Lay-away, lay-by, and/or will-call sales shall be included in the Business Tax base for the taxable period in which the delivery is made. Where the property is returned to inventory because of nonpayment for the merchandise and any previously made payments are forfeited because the sale is not completed, the amount forfeited shall be included in the Business Tax base at that time.
Tenn. Comp. R. & Regs. 1320-04-05-.23
Authority: T.C.A. §§67-5822 and 67-101.