Section 50-7-401 - Payment(a) Premiums shall accrue and become payable by each employer for each calendar year in which the employer is subject to this chapter, with respect to wages paid for employment, as defined in § 50-7-207, occurring during the calendar year; provided, that any employer who uses an accrual basis of accounting may report wages when earned so long as the reporting method is consistent. The premiums shall become due and be paid by each employer to the administrator for the fund in accordance with regulations the commissioner prescribes, and shall not be deducted, in whole or in part, from the wages of individuals who perform services for the employer. Neither shall payments in lieu of premiums be deducted in whole or in part from the wages of individuals who perform services for employers making the payments.(b) In the payment of any premium, a fractional part of a cent shall be disregarded unless it amounts to one-half cent (1/2 ¢) or more, in which case it shall be increased to one cent (1¢).Acts 1947, ch. 29, § 7; C. Supp. 1950, § 6901.7 (Williams, § 6901.31); Acts 1973, ch. 130, § 7; T.C.A. (orig. ed), § 50-1326; Acts 1985, ch. 318, §§ 40, 41; 1992, ch. 694, § 7.