(a) Any successor by purchase, or otherwise, of any business subject to tax shall be liable for and shall pay the tax imposed against such business before such successor can obtain a license to do any of the acts declared to be taxable by statute.

Terms Used In Tennessee Code 67-4-208

  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
(b) Any person acting as agent, trustee, guardian, administrator, executor, assignee or receiver doing any of the acts declared to be a privilege is subject to the tax imposed on that privilege.
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