Tennessee Code 67-3-502 – Payment by bonded importer
Terms Used In Tennessee Code 67-3-502
- Bonded importer: means a person with a valid bonded importer's license under §. See Tennessee Code 67-3-103
- Department: means the department of revenue. See Tennessee Code 67-3-103
- Import: means to bring petroleum products into this state by any means of conveyance other than in the fuel supply tank of a motor vehicle. See Tennessee Code 67-3-103
- Month: means a calendar month. See Tennessee Code 1-3-105
- Petroleum products: means all benzol, gasoline, burning oil, distillate, fuel oil, gas oil, kerosene, naphtha, or any other volatile substance, excluding propane, reflecting a gravity of sixteen degrees (16°. See Tennessee Code 67-3-103
- State: means the state of Tennessee. See Tennessee Code 67-3-103
- Supplier: means a person that meets all the following conditions:
(i) Is subject to the general taxing jurisdiction of this state. See Tennessee Code 67-3-103
Except as otherwise provided in this part, the taxes and fees imposed by part 2 of this chapter on taxable petroleum products measured by gallons imported from another state shall be paid by the licensed bonded importer who has imported such products. The taxes and fees shall be paid on or before the twentieth day of the month following the month of import, unless such day falls on a weekend or state or banking holiday, in which case the taxes and fees are due the next succeeding business day. However, if the supplier has made a blanket election to precollect tax under § 67-3-503, the supplier is jointly and severally liable with the bonded importer for the taxes and fees, and shall remit to the department on behalf of the bonded importer under the same terms as a supplier payment under § 67-3-504.