Rules & Regulations of the State of Tennessee
Title 1320 - Revenue
Subtitle 1320-07 - Petroleum Tax Division
Chapter 1320-07-04 - Exemption and Refund of Taxes on Petroleum Products
Section 1320-07-04-.03 - REFINERY EXEMPTION
Universal Citation: TN Comp Rules and Regs 1320-07-04-.03
Current through September 24, 2024
The refinery exemption shall apply only to a refinery and to sales made by it in accordance with the law. Secondary sales by a person purchasing or otherwise receiving interest in refinery stored products, and who thereafter either sells, exchanges, or transfers title to it to others shall be taxable. These secondary sales shall be taxable regardless of whether or not the product has been removed from refinery storage.
Authority: T.C.A. § 67-1-102.
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