Rules & Regulations of the State of Tennessee
Title 1320 - Revenue
Subtitle 1320-05 - Sales and Use Tax Division
Chapter 1320-05-01 - State Sales and Use Tax Rules
Section 1320-05-01-.49 - PREMIUMS, GIFTS AND TRADING STAMPS

Universal Citation: TN Comp Rules and Regs 1320-05-01-.49

Current through September 24, 2024

(1) Items of tangible personal property which are withdrawn from a dealer's stock for which a resale certificate has been issued his supplier, or which are purchased for use as premiums or gifts, are subject to the Sales or Use Tax.

(2) Persons engaged in the business of redeeming trading stamps which have been given by other dealers shall be deemed to be a dealer and shall be liable for the Sales or Use Tax on the retail value of the merchandise given for the stamps: this value shall be deemed to be that which is assigned to the books of stamps. Such dealers shall likewise be liable for any Sale or Use Tax on the purchases and/or distribution of any catalogs, stamps, etc., in this State.

Authority: T.C.A. §§ 67-1-102 and 67-6-402.

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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