Amends TCA Title 4; Title 38; Title 39; Title 45; Title 47; Title 49 and Title 67.
Tennessee SB2166 classifies money transmissions originating in the state to locations outside the United States or its territories as service transactions subject to sales and use tax. This bill affects individuals and businesses engaged in money transmission services. Key provisions include the imposition of sales and use tax on these transactions and the requirement for the revenues generated to be allocated to specified purposes.
Tennessee SB2166 classifies money transmissions originating in the state to locations outside the United States or its territories as service transactions subject to sales and use tax. This bill affects individuals and businesses engaged in money transmission services. Key provisions include the imposition of sales and use tax on these transactions and the requirement for the revenues generated to be allocated to specified purposes.
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