(a) The production by any person in connection with any business for profit, regardless of the form of such profit, of special nuclear material is declared to be a taxable privilege upon which each county and/or municipality in which the special nuclear material is produced may levy such privilege tax by resolution or ordinance of the legislative body in accordance with this part.

Terms Used In Tennessee Code 67-4-1102

  • Contract: A legal written agreement that becomes binding when signed.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Person: includes :
    (A) Any private individual, corporation, partnership, firm, association, trust, estate, or other entity, but does not include any foreign, federal, state, or local government, or political subdivision, or any agent or agency of government. See Tennessee Code 67-4-1101
  • Special nuclear material: means :
    (A) Plutonium, uranium enriched in the isotope 233 or 235, and any other material that is now or subsequently determined to be special nuclear material by the atomic energy commission or any successor agency of the United States government pursuant to the Atomic Energy Act of 1954 (42 U. See Tennessee Code 67-4-1101
(b) Every person exercising such privilege shall be liable for the tax, whether such person’s possession of such special nuclear material for purposes of production is by virtue of such person’s ownership of the material or is pursuant to a lease, contract, license, loan or otherwise.
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