Section 1320-04-02-.03 - COMPUTATION OF TAX(1) The amount of alcoholic beverages tax and sales tax due monthly or during an accounting period shall be computed by dividing the sum of the alcoholic beverage tax rate and the applicable sales tax rate, plus 100%, into the total sales price of all alcoholic beverages sold during each calendar month or accounting period. The resultant figure shall then be used as a taxable base to which the alcoholic beverages tax rate shall be applied to arrive at the amount of alcoholic beverages tax due, and the figure to which the applicable sales tax shall be applied to arrive at the amount of sales tax due on alcoholic beverages only. Example: Based on sales price of alcoholic beverages in the amount of $1,500.
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Tenn. Comp. R. & Regs. 1320-04-02-.03
Original rule certified June 7, 1974. Amendment filed November 29, 1976; effective December 29, 1976. Amendment filed June 27, 1990; effective August 11, 1990.Authority: T.C.A. §§ 67-1-102 and 57-4-302.