# Tenn. Code Ann. § 67-2-109: Brokers - Liability for return and tax

> Tennessee · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-109

## Section

- **Citation:** Tenn. Code Ann. § 67-2-109
- **Heading:** Brokers - Liability for return and tax
- **Jurisdiction:** Tennessee
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TN Code / Title 67 / Chapter 2 / Section 67-2-109

## Text

When and if a broker or commission dealer does not make physical delivery to the broker's or commission dealer's customers of stocks and bonds, income from which is taxable under this chapter, but retains possession or title, or both, in such broker or commission dealer or through a nominee agent depository of such security and receives such income or credit for the stocks and bonds, the broker or commission dealer shall report such income to the commissioner, and pay the tax on the income measured by the dividends or interest credited, or which should be credited, to the accounts of the broker's or commission dealer's customers, unless the broker or commission dealer furnishes to the commissioner a list of the broker's or commission dealer's customers, with the last known address of each, to whom such dividends or interest have been paid or credited and the amount of the dividends or interest. Acts 1931 (2nd Ex. Sess.), ch. 20, § 13; C. Supp. 1950, § 1123.28; impl. am. Acts 1959, ch. 9, § 14; T.C.A. (orig. ed.), § 67-2615.
When and if a broker or commission dealer does not make physical delivery to the broker's or commission dealer's customers of stocks and bonds, income from which is taxable under this chapter, but retains possession or title, or both, in such broker or commission dealer or through a nominee agent depository of such security and receives such income or credit for the stocks and bonds, the broker or commission dealer shall report such income to the commissioner, and pay the tax on the income measured by the dividends or interest credited, or which should be credited, to the accounts of the broker's or commission dealer's customers, unless the broker or commission dealer furnishes to the commissioner a list of the broker's or commission dealer's customers, with the last known address of each, to whom such dividends or interest have been paid or credited and the amount of the dividends or interest.
Acts 1931 (2nd Ex. Sess.), ch. 20, § 13; C. Supp. 1950, § 1123.28; impl. am. Acts 1959, ch. 9, § 14; T.C.A. (orig. ed.), § 67-2615.

## Nearby sections

- [Tenn. Code Ann. § 67-2-101 Chapter definitions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-101.md)
- [Tenn. Code Ann. § 67-2-102 Imposition, rate and collection of tax](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-102.md)
- [Tenn. Code Ann. § 67-2-103 Tax for state purposes only](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-103.md)
- [Tenn. Code Ann. § 67-2-104 Exemptions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-104.md)
- [Tenn. Code Ann. § 67-2-105 Back assessments prohibited](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-105.md)
- [Tenn. Code Ann. § 67-2-107 Returns generally](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-107.md)
- [Tenn. Code Ann. § 67-2-108 Confidentiality of returns](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-108.md)
- [Tenn. Code Ann. § 67-2-109 Brokers - Liability for return and tax](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-109.md)
- [Tenn. Code Ann. § 67-2-110 Fiduciaries - Liability for return and tax](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-110.md)
- [Tenn. Code Ann. § 67-2-111 Foreign trust beneficiaries - Liability for return and tax](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-111.md)
- [Tenn. Code Ann. § 67-2-112 Date tax due - Member of armed forces serving during period of hostilities](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-112.md)
- [Tenn. Code Ann. § 67-2-113 Powers of commissioner - Assistants](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-113.md)
- [Tenn. Code Ann. § 67-2-114 Interest and penalties - Armed forces exclusion - Assessment or collection of tax or liability](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-114.md)
- [Tenn. Code Ann. § 67-2-115 Determination of tax by commissioner](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-115.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C2_S67-2-109. Check the current official text before relying on it. Not legal advice.