Terms Used In Tennessee Code > Title 62 > Chapter 29 > Part 1 - Tax Return Preparer Act of 1969

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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: means a natural person, corporation, association, partnership or any organized group of persons. See Tennessee Code 62-29-102
• Preparer of tax returns: means a person who, in consideration of compensation received or to be received by the person, offers to perform or holds that person out to perform services for residents or taxpayers of this state that involve advice concerning the preparation of returns required under state law, except the tax on income. See Tennessee Code 62-29-102
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105