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? What will happen if I fail to file the franchise and excise tax Application for Exemption/Annual Exemption Renewal (FAE183)? Do gains from the sale of real or tangible personal property qualify as passive investment income?