Bass, Berry & Sims attorney Steve Jasper provided insight for a Tax Notes State article related to a recent decision by the Tennessee Court of Appeals addressing how a company is properly classified as a wholesaler for business tax purposes.
As the article explains, Steve supported the decision because the approach endorsed by the court “is a relatively easy way to apply the business tax test for wholesalers.” He added “the case leaves open other ways that a taxpayer could establish that it is a wholesaler and supports not looking behind the exemption certificate provided by its customer to determine how the item was actually used.”
The full article, “Tennessee Court Approves DOR’s Approach to Wholesaler Tax Rate,” was published by Tax Notes State on January 7 and is available online (subscription required).