(a) This section applies to dealers who are required to register for and collect and remit the sales and use tax imposed on items of tangible personal property under this chapter when such items are sold during the period of time beginning July 1, 2022, and ending June 30, 2023.
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Terms Used In Tennessee Code 67-6-521

  • Dealer: means every person, as used in this chapter, including Model 1, Model 2, and Model 3 sellers, where the context requires, who:
    (A) Manufactures or produces tangible personal property for sale at retail, for use, consumption, distribution, or for storage to be used or consumed in this state. See Tennessee Code 67-6-102
  • 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
  • Use: means and includes the exercise of any right or power over tangible personal property incident to the ownership thereof, except that it does not include the sale at retail of that property in the regular course of business. See Tennessee Code 67-6-102
  • Use tax: includes the "use" "consumption" "distribution" and "storage" as defined in this section. See Tennessee Code 67-6-102
(b) For purposes of compensating a dealer in accounting for and remitting the tax imposed by this chapter, a dealer is allowed a deduction of tax due, reported, and remitted to the department of revenue as follows:

(1) The deduction must be applied only to the state portion of the sales and use tax levied under part 2 of this chapter;
(2) Two percent (2%) of the first two thousand five hundred dollars ($2,500) on each report; and
(3) One and fifteen one-hundredths percent (1.15%) of the amount over two thousand five hundred dollars ($2,500) on each report.
(c) A deduction from tax due is not allowed if any such report or remittance of tax is delinquent.
(d) Notwithstanding subsection (b), the deduction provided by this section is limited to a maximum of twenty-five dollars ($25.00) per report.
(e) Notwithstanding another law to the contrary, an amount equal to the excess of the amount calculated by the formula set forth in subsection (b), over and above the twenty-five-dollar limit imposed by subsection (d), must be retained by the state and deposited in the state’s general fund.
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