Tenn. Comp. R. & Regs. 1320-05-01-.49 - PREMIUMS, GIFTS AND TRADING STAMPS
(1) Items of
tangible personal property which are withdrawn from a dealer's stock for which
a resale certificate has been issued his supplier, or which are purchased for
use as premiums or gifts, are subject to the Sales or Use Tax.
(2) Persons engaged in the business of
redeeming trading stamps which have been given by other dealers shall be deemed
to be a dealer and shall be liable for the Sales or Use Tax on the retail value
of the merchandise given for the stamps: this value shall be deemed to be that
which is assigned to the books of stamps. Such dealers shall likewise be liable
for any Sale or Use Tax on the purchases and/or distribution of any catalogs,
stamps, etc., in this State.
Notes
Authority: T.C.A. ยงยง 67-1-102 and 67-6-402.
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