Monthly Reports

(1) All persons subject to tax under T.C.A. §§ 57-5-201 et seq. and T.C.A. §§ 57-6-101 et seq. must file reports with the Department of Revenue not later than the twentieth (20th) of each month covering all transactions of the previous month, at the same time paying any tax which may be due. (2) Such reports must be filed on forms provided or approved by the Department of Revenue. Reports must be prepared in a manner so as to be reasonably subject to audit by the Department of Revenue. Reports not filed and prepared in accordance with the provisions of this rule will not be accepted as timely filed. (3) All delinquent reports and/or payments shall be subject to penalty as provided at T.C.A. § 67- 1-804.