(a) The commissioner has the power to issue revenue and letter rulings, at the commissioner’s discretion.
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Terms Used In Tennessee Code 67-1-109

(b) Revenue rulings shall be statements regarding the substantive application of law and statements of procedure that affect the rights and duties of taxpayers and other members of the public. Revenue rulings shall be advisory in nature and shall not be binding upon the department.
(c)

(1) Letter rulings shall interpret and apply the tax law to a specific set of existing facts furnished by a particular taxpayer. These rulings shall be binding upon the department and are applicable only to the individual taxpayer being addressed.
(2) Letter rulings can be revoked or modified by the commissioner at any time. Such revocation or modification shall be effective retroactively, unless the following conditions are met, in which case the revocation shall be prospective only:

(A) The taxpayer must not have misstated or omitted material facts involved in the transaction;
(B) Facts that develop later must not be materially different from the facts upon which the ruling was based;
(C) The applicable law must not have been changed or amended;
(D) The ruling must have been issued originally with respect to a prospective or proposed transaction; and
(E) The taxpayer directly involved must have acted in good faith in relying upon the ruling, and a retroactive revocation of the ruling must inure to the taxpayer’s detriment.
(d) When prompt consideration of an issue is needed, a party can request an expedited letter or revenue ruling by expressly requesting an expedited ruling and by submitting the fee required to receive an expedited ruling, as such fee is established by the commissioner. When an expedited letter or revenue ruling is requested as provided in this subsection (d), the commissioner shall either issue a ruling within sixty (60) days of the date on which the request for an expedited ruling was submitted or deny the request and return the fee to the requesting party within seven (7) days of the date on which the request was submitted.
(e) Requests for revenue and letter rulings shall be submitted in the form and manner prescribed by regulations issued by the commissioner.
(f) A reasonable fee may be set and prescribed by the commissioner for issuing revenue and letter rulings. The fee shall not exceed ten thousand dollars ($10,000) for expedited revenue or letter rulings requested pursuant to subsection (d) and shall not exceed five hundred dollars ($500) for all other revenue and letter rulings.
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