Tenn. Comp. R. & Regs. 1320-07-04-.03

Current through January 8, 2025

Section 1320-07-04-.03 - REFINERY EXEMPTION

The refinery exemption shall apply only to a refinery and to sales made by it in accordance with the law. Secondary sales by a person purchasing or otherwise receiving interest in refinery stored products, and who thereafter either sells, exchanges, or transfers title to it to others shall be taxable. These secondary sales shall be taxable regardless of whether or not the product has been removed from refinery storage.

Tenn. Comp. R. & Regs. 1320-07-04-.03

Original rule certified June 7, 1974. Repeal and new rule filed August 15, 1979; effective November 27, 1979.

Authority: T.C.A. § 67-1-102.