1320-03-02-.01
Income
Cite as Tenn. Comp. R. & Regs. 1320-03-02-.01
(1)
Income is considered to be received for the purpose or the law when:
(a)
It is actually paid in cash;
(b)
Check or other negotiable instrument, or equivalent, is mailed to taxpayer, regardless of date
received;
(c)
When credited upon the books of a bank, banking institution, broker or any agent of the
taxpayer;
(d)
When payment is made in merchandise or other commodities of intrinsic value.