MTAS Publications: Technical Bulletins



Document Type


Publication Date



The Middle Section of the Tennessee Court of Appeals has held that rental inventory of a taxpayer who is subject to the business tax, as authorized in Tennessee Code Annotated § 67-5801, et seq., is exempt from the payment of personal property ad valorem taxes on that inventory . In Art Pancake's United Rent-All v . Glenn Ferguson, 601 S.W . 2d 926 (October 1979), the court relied primarily on statutory construction to reach its conclusion that the business tax is in lieu of ad valorem taxes on rental inventories .


The MTAS publications provided on this website are archival documents intended for informational purposes only and should not be considered as authoritative. The content contained in these publications may be outdated, and the laws referenced therein may have changed or may not be applicable to your city or circumstances. For current information, please visit the MTAS website at:

Files over 3MB may be slow to open. For best results, right-click and select "save as..."