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Red Tape Monthly Inventory Becomes for Real for Tennessee Restaurants, Bars, Hotels and Venues
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Red Tape Monthly Inventory Becomes for Real for Tennessee Restaurants, Bars, Hotels and Venues

06.28.17
We hear from reliable sources that the Tennessee Department of Revenue will require a monthly inventory when LBD tax returns become due starting April 15, 2014.   We first blogged about it here.

Although the requirement was created to resolve problems with LBD audits, we have heard from licensees of all sizes, from local proprietors to huge restaurants brands, about a variety of problems with the new requirement.

Brings to mind Kenny Chesney's hit "No Shoes, No Shirt, No Problems"

Want to soak up life for a while in laid back mode
No boss, no clocks, no stress, no dress code
And no shoes, no shirt, no problems
 
Revenue has a draft of the form for the audit LBD Audit.  Stay tuned for more as this fascinating tale unfolds.

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