Tennessee Code 67-6-332 – Utilities, electric cooperatives and electric membership corporations
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 67-6-332
- 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.
- Person: includes any individual, firm, co-partnership, joint venture, association, corporation, estate, trust, business trust, receiver, syndicate, any governmental agency whose services are essentially a private commercial concern, or other group or combination acting as a unit, in the plural as well as the singular number. See Tennessee Code 67-6-102
- Property: includes both personal and real property. See Tennessee Code 1-3-105
There is exempt from the tax imposed by this chapter the sums paid or property or services contributed by any person to any municipal or county utility, electric cooperative or electric membership corporation, by any person who is required as a condition for utility service to make such payment as a contribution in aid of capital construction to the municipal or county utility, electric membership corporation or electric cooperative.