Rules & Regulations of the State of Tennessee
Title 0600 - Board of Equalization
Chapter 0600-05 - Assessment of Commercial and Industrial Tangible Personal Property
Section 0600-05-.05 - AUDIT

Universal Citation: TN Comp Rules and Regs 0600-05-.05

Current through April 3, 2024

(1) Desk audits shall be performed on all schedules returned. Items to be reviewed shall include:

(a) Depreciation;

(b) Math;

(c) Any evidence provided by the taxpayer regarding value;

(d) Comparable accounts;

(e) Previous year's assessment.

(2) Systematic field audits of individual accounts shall be performed as deemed necessary by the assessor of property. In addition, random field audits shall be performed periodically. Nonreporting accounts, new accounts, major accounts, accounts with significant changes, and accounts suspected of improperly reporting may be emphasized. The purpose of the field audit shall be to determine if the taxpayer has reported properly or, if the taxpayer has not reported, to gather data for a forced assessment.

(3) Audits shall be conducted in accordance with a plan submitted by the assessor of property and approved by the State Board of Equalization.

(4) Assessors shall maintain confidentiality of taxpayer information in accordance with T.C.A. § 67-5-402.

Authority: T.C.A. §§ 67-1-305 and 67-5-902.

Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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