7-4-204 - Delinquency Interest and penalties. - Tennessee Statutes

7-4-204. Delinquency Interest and penalties.

(a)  Taxes due and payable that are not remitted to the tax collection official on or before the due dates are delinquent.

(b)  The person owing the taxes shall be liable for interest on any delinquent taxes from the due date at the rate of eight percent (8%) per annum, and, in addition, for a penalty of one percent (1%) for each month or fraction of a month that the taxes are delinquent. The interest and penalties shall become a part of the tax required to be remitted in this chapter.

(c)  Willful refusal of a person to collect or remit the tax or willful refusal of an operator of a contracted vehicle to keep accurate records of the tax due and payable is a Class C misdemeanor.

(d)  Any fine levied in this chapter shall be applicable to each individual transaction involving an operator of a contracted vehicle for willful refusal to keep accurate records or the willful refusal of a person to collect or remit the tax due and owing.

[Acts 2007, ch. 422, § 4.]