Tennessee Code 67-4-1506 – Monthly distribution of collected taxes – Deduction of administrative fee
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Terms Used In Tennessee Code 67-4-1506
- Department: means the department of revenue. See Tennessee Code 67-4-1501
- Short-term rental unit: means a residential dwelling that is rented wholly or partially for a fee for a period of less than thirty (30) continuous days and does not include a hotel as defined in §. See Tennessee Code 67-4-1501
The department shall distribute the taxes collected pursuant to this part on a monthly basis to the applicable local governing body in which the short-term rental unit was located and for which the tax was collected. The department may deduct an administration fee of one and one hundred twenty-five thousandths percent (1.125%) of the collected tax to cover its expenses of administering the collection and distribution of the tax.