Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Public Administration
Technical Bulletins: Rental Inventory Expert From Ad Valorem Personal Property Tax Where Rentor Is Subject To Business Tax, Mtas
MTAS Publications: Technical Bulletins
The Middle Section of the Tennessee Court of Appeals has held that rental inventory of a taxpayer who is subject to the business tax, as authorized in Tennessee Code Annotated ยง 67-5801, et seq., is exempt from the payment of personal property ad valorem taxes on that inventory . In Art Pancake's United Rent-All v . Glenn Ferguson, 601 S.W . 2d 926 (October 1979), the court relied primarily on statutory construction to reach its conclusion that the business tax is in lieu of ad valorem taxes on rental inventories .