A parent business owns 100% of the interest in two single member LLCs. The organization wishes to change the ownership of company-owned vehicles from one single member LLC to the other single member LLC. Is sales tax due on this transfer?

No.  Tennessee sales tax does not apply when a single member LLC transfers vehicles to another single member LLC when both the LLCs are 100% owned by a parent company.

Not finding answers? Submit a request

Comments

Powered by Zendesk