55-4-505 - Adjusting tax valuation and classification fees to establish a uniform month of expiration. - Tennessee Statutes

55-4-505. Adjusting tax valuation and classification fees to establish a uniform month of expiration.

(a)  For the purposes of establishing a new fleet registrant, in order to establish a uniform month of expiration, the valuation for the vehicle license tax shall be maintained at the current valuation if it is necessary to calculate a partial year vehicle license tax.

(b)  For the purposes of establishing a new fleet registrant, in order to establish a uniform month of expiration, the classification fees and any other motor carrier fees established by law may be discounted on a monthly basis for the purposes of calculating a partial registration year.

[Acts 1993, ch. 150, § 6.]