Tennessee Code 67-1-1442 – Continuation of business to satisfy delinquent tax liability
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 67-1-1442
- Commissioner: means the commissioner of revenue. See Tennessee Code 67-1-101
- 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.
- 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.
- 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
When a taxpayer is engaged in business as a sole proprietor, a partnership, or as a corporation, and that taxpayer is delinquent in paying a liability to the state for any tax or fee, then the commissioner or the commissioner’s designee may permit the business taxpayer to continue in operation in order to pay to the state any tax or fee owed to the state. Such an arrangement shall be pursuant to rules and regulations promulgated by the commissioner. The commissioner or the commissioner’s designee may permit such continued operation of a business, unless such designee finds there is a danger of the taxpayer doing any act to prejudice or render wholly or partly ineffectual the collection of the tax or fee due to the state.