Amends TCA Title 67, Chapter 6, Part 3.
Tennessee SB1095 proposes to exempt the first $20 of the sales price from sales tax on transactions involving tangible personal property when payment is made using physical cash declared as legal tender, including gold and silver. This bill primarily affects consumers making purchases in cash and retailers who collect sales tax. A key provision of the bill is the specific exemption amount of $20, which applies only to cash transactions.
Tennessee SB1095 proposes to exempt the first $20 of the sales price from sales tax on transactions involving tangible personal property when payment is made using physical cash declared as legal tender, including gold and silver. This bill primarily affects consumers making purchases in cash and retailers who collect sales tax. A key provision of the bill is the specific exemption amount of $20, which applies only to cash transactions.
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