BUS-34 – Sales of Intangible Personal Property

Taxpayers who buy and sell intangible personal property or real property as part of their normal business activities are not liable for business tax on these sales. Examples of non-taxable intangibles include: royalties, franchise fees, broadcast rights, licensing of copyrights, transfers of virtual currency, and renewable identification numbers.

Reference: Tenn. Code Ann. § 67-4-702(a)(18). See Ruling 17-05.

Not finding answers? Submit a request

Comments

Powered by Zendesk