Rules & Regulations of the State of Tennessee
Title 1320 - Revenue
Subtitle 1320-03 - Inheritance, Gift, and Income Taxes
Chapter 1320-03-02 - Rules for Income Taxes
Section 1320-03-02-.01 - INCOME
Universal Citation: TN Comp Rules and Regs 1320-03-02-.01
Current through September 24, 2024
(1) Income is considered to be received for the purpose or the law when:
(a) It is
actually paid in cash;
(b) Check or
other negotiable instrument, or equivalent, is mailed to taxpayer, regardless
of date received;
(c) When credited
upon the books of a bank, banking institution, broker or any agent of the
taxpayer;
(d) When payment is made
in merchandise or other commodities of intrinsic value.
Authority: T.C.A. §§ 67-1-102 and 67-2-113.
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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