Tennessee Code 67-4-1609 – Motor vehicle leasing companies
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Terms Used In Tennessee Code 67-4-1609
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Motor vehicle: means any vehicle used in the transportation of persons or property on streets or highways, including automobiles, motorcycles, trucks, trailers, semi-trailers and truck/semi-trailer combinations, and also including farm tractors, trailers and machinery, but not including vehicles propelled solely by human muscular power, such as bicycles. See Tennessee Code 67-4-1602
- State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States and any foreign country or political subdivision thereof. See Tennessee Code 67-4-2004
A motor vehicle leasing company, when purchasing new tires for resale in the form of a lease, must remit the fee on the tires when the tires are first put to use in this state.