As used in this part, unless the context otherwise requires:

(1) “Person” means a natural person, corporation, association, partnership or any organized group of persons; and

Terms Used In Tennessee Code 62-29-102

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means a natural person, corporation, association, partnership or any organized group of persons. See Tennessee Code 62-29-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) “Preparer of tax returns” means a person who, in consideration of compensation received or to be received by the person, offers to perform or holds that person out to perform services for residents or taxpayers of this state that involve advice concerning the preparation of returns required under state law, except the tax on income. For the purpose of this part, a person is not a “preparer of tax returns” when:

(A) It is the person’s legal obligation to prepare the return as the taxpayer;
(B) Acting as a regular and bona fide employee of the taxpayer. A regular and bona fide employee of the taxpayer shall be an individual and shall not be an employer in matters relating to the preparation of state tax returns;
(C) Acting as an agent of the department of revenue;
(D) Acting as an agent of the department of labor and workforce development; or
(E) As an employee of a nonprofit corporation or its wholly owned subsidiary, the person prepares a tax return for a member of the corporation.
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