2018 Tennessee Code
Title 67 - Taxes and Licenses
Chapter 5 - Property Taxes
Part 9 - Classification and Assessment -- Tangible Personal Property
§ 67-5-904. Schedules -- Leased property.

Universal Citation: TN Code § 67-5-904 (2018)
  • (a)

    • (1) For the purpose of assessing leased property, it is the further duty of the taxpayer to list fully on a schedule provided by the assessor all tangible personal property that is leased by the taxpayer for the conduct of the taxpayer's business.

    • (2) Leased property shall include equipment, machinery and all tangible personal property used in the conduct of, or as a part of, the taxpayer's business, including, but not limited to, the following:

      • (A) Equipment that is leased only, not sold;

      • (B) Equipment that is leased at nominal rent or loaned under certain circumstances;

      • (C) Equipment that is leased and not permitted to be sold;

      • (D) Leased coin-operated machines and devices;

      • (E) Equipment that is placed on location;

      • (F) Vehicles, automobiles, trucks;

      • (G) Furniture; and

      • (H) Electronic equipment.

  • (b) The lessor, or owner of leased tangible personal property, shall provide such information as the assessor may request regarding the location, valuation or use of such property.

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