SB1492 - Tennessee: Business And Commerce, Revenue, Dept. Of, Taxes, Sales, Telecommunications

Companion Bill HB1347. Taxes, Sales - Specifies the amount of sales taxes owed by a retail dealer under certain circumstances when a cellular telephone is sold in conjunction with a contract for cellular service from a specified cellular telephone service provider. - Amends TCA Title 67, Chapter 6. Fiscal Summary for *SB1492 / HB1347Decrease State Revenues - $750,000 Decrease Local Govt. Revenues - $250,000 Bill Summary for *SB1492 / HB1347 Under this bill, IF a retail dealer sells a cellular telephone to a consumer who, as part of the transaction, contractually agrees to purchase cellular service from a specified provider for a fixed term for one year or more, THEN the only sales and use tax owed by and collected from the retail dealer of that cellular telephone is the amount of sales tax owned by the consumer on the purchase price for the telephone [...]

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