Tenn. Comp. R. & Regs. 1320-04-05-.34

Current through December 18, 2024

Section 1320-04-05-.34 - PATRONAGE DIVIDENDS OF COOPERATIVE ASSOCIATIONS

The amount of cash and other patronage dividends, declared by cooperative selling associations or corporations are paid to or credited to a member's account from the earnings of such association or corporation, may be taken as a deduction from gross sales for the tax period in which the distributions and credits are made.

Tenn. Comp. R. & Regs. 1320-04-05-.34

Original rule certified June 7, 1974. Amendment filed March 18, 1983; effective June 15, 1983.

Authority: T.C.A. §§ 67-1-102 and 67-4-703.