Tenn. Comp. R. & Regs. 1320-04-10-.02 - REGISTRATION AND RECORDS

(1) Every owner of a coin-operated amusement device which is in use or is intended for use shall register with the Department of Revenue, obtain a taxpayer identification number, and pay the tax specified in T.C.A. § 67-4-507 for each device for the privilege of operating, leasing, subleasing or consigning such device in this state.

(2) The tax shall be administered and collected on an annual basis for the year beginning on July l and ending on June 30. The tax shall be paid and a return filed on forms provided by the Department of Revenue on or before July 20 of each year, or any part thereof, in which the privilege is exercised. The tax shall not be prorated, except as provided by T.C.A. § 67-4-507.

(3) The following records shall be maintained by the owner, shall be available for audit and inspection by the Department of Revenue during regular business hours, and shall be retained for a period of four years:

(a) dates of acquisition and disposition of devices;

(b) names and addresses of persons to whom devices are leased, subleased or consigned; and

(c) a running inventory of the locations and movements of each device.

Notes

Tenn. Comp. R. & Regs. 1320-04-10-.02

Original rule filed December 16, 1983; effective January 15, 1984. Amendment filed November 22, 1989; effective January 6, 1990.

Authority: T.C.A. §§ 67-4-203, 67-4-507, and 67-1-102.