Tennessee Code 67-4-2019 – Exemption for distributions to publicly traded real estate investment trust (public REIT)
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 67-4-2019
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- public REIT: means an entity that has an election in effect under §. See Tennessee Code 67-4-2004
There shall be exempt from the payment of the excise tax levied under this part any person treated as a partnership for federal tax purposes that directly or indirectly distributes one hundred percent (100%) of its net earnings or net losses to a public REIT.