[Not applicable to decedents who die in 2016 or after, see section 67-8-425.]

(a) The commissioner shall collect the tax imposed by this part and part 3 of this chapter and deposit the tax in such depository, or depositories, as the commissioner may select, which shall have executed and filed with the commissioner a bond in an amount fixed by the commissioner, signed by an approved surety company authorized to transact business in Tennessee, guaranteeing the safekeeping and delivery of such funds upon demand.

Terms Used In Tennessee Code 67-8-415

  • signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
  • 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
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(b) It is the duty of the commissioner to keep detailed records of the tax collected and to make report thereof to the comptroller of the treasury not later than the fifteenth day of the months of January, April, July and October each year of such collections made during the preceding quarterly period, remitting with such reports the amount so reported, which shall be and become a part of the general fund of the state.
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