Where in Tennessee law can the FONCE exemption be found? Please see Tenn. Code. Ann. Section 67-4-2008(a)(11). September 09, 2015 19:23 Related articles What are the qualifications for the FONCE exemption? For the purposes of the FONCE exemption, what relationships are considered family-members? What is considered to be residential property for purposes of the FONCE exemption? Do gains from the sale of real or tangible personal property qualify as passive investment income? What will happen if I fail to file the franchise and excise tax Application for Exemption/Annual Exemption Renewal (FAE183)?