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2020 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 (2020)
- 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.
- 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:
- Equipment that is leased only, not sold;
- Equipment that is leased at nominal rent or loaned under certain circumstances;
- Equipment that is leased and not permitted to be sold;
- Leased coin-operated machines and devices;
- Equipment that is placed on location;
- Vehicles, automobiles, trucks;
- Furniture; and
- Electronic equipment.
- 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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