Tntap franchise and excise tax. To create a TNTAP Username and Password, follow.
Tntap franchise and excise tax 25%. 7 Both taxes are solely for state purposes and Revenue Ruling 11-46 – Disregarded Entities and Filing Requirements 81 Tax Accounts: Franchise/Excise Tax (F&E) Required for any corporation, limited partnership, LLC, or business trust chartered/organized or doing business in Tennessee Overview Franchise and excise tax is imposed on entities that operate in Tennessee and offer their owners limited liability protection. 50% and is effective until June 30, 2026. Specifically, taxpayers who paid franchise tax TNTAP Payments-2 – Franchise and Excise Tax Estimated Payments in TNTAP Making a Franchise & Excise Estimated Payment There are two ways to make an estimated payment: Non-logon payment Logon payment Taxpayers with a logon will most likely want to make a payment using the Logon payment option. There is no state personal income tax, and a relatively low overall business tax burden. 7 Both taxes are solely for state purposes and Apr 25, 2025 · Understanding Tennessee’s Small Business Taxes Tennessee prides itself on its business-friendly tax climate. Motor Fuel Accounts Only: Some forms require supplemental files/amendments. If you have a combined (franchise and excise) tax liability of $5,000 or more in both the prior and current tax years, your taxes must be paid in quarterly estimated payments on the 15th of April, June, September and the following January. Feb 21, 2025 · Learn how to apply for a Tennessee Tax Clearance Certificate, understand eligibility requirements, and navigate potential delays in the approval process. Franchise - the lesser of 25% of the franchise tax shown on the tax return for the preceding tax year (annualized if less than 12 months) or 25% of 80% of the current year’s liability. Below are instructions on how to do each of these parts. Dec 11, 2018 · The Department of Revenue has important updates about business tax and franchise and excise tax. Jan 1, 2024 · Franchise & Excise Tax Returns FAE170 Kit - For tax periods beginning January 1, 2024 and after For corporations, LLCs, & LPs. This includes information about new account numbers, consolidation and other filing tips. The state of Tennessee requires that all businesses register for business tax. 7 Both taxes are solely for state purposes and • If you owe state tax and you file a Federal consolidated tax return, you must use Form FAE-173 (Application for Extension of Time to File Franchise, Excise Tax Return) or file your extension request electronically. Click on the "Professional Privilege Account ID" link under the "Look Up Information & Requests" heading. 1, 2024. TNTAP is Tennessee's free, one-stop site for filing your taxes, managing your account and viewing correspondence. Between understanding who must file, keeping track of deadlines, and managing payments, it’s easy for mistakes to happen. Sep 4, 2025 · Internet-based businesses selling tangible goods may need to collect sales tax. Sep 29, 2023 · E-file-13 - How to Pay Franchise and Excise Tax Online If your tax preparer has filed your return and you only need to make a payment, follow these steps. Taxpayers who filed Tennessee franchise and excise tax returns in the past three years should review their originally filed tax returns to confirm if franchise tax was paid according to the property measure. Accepted Account Number Online Search You may look up your professional privilege tax account ID by visiting our tax filing website, the Tennessee Taxpayer Access Point (TNTAP). Your browser appears to have cookies disabled. When filing the franchise and excise tax return on TNTAP, a taxpayer should check “yes” when asked “Have you filed for an extension?” Taxpayers who qualify for an exception from the electronic filing requirement may submit a paper Form FAE173 to request an extension. This tax structure consists of two components: an Excise Tax based on net earnings and a Franchise Tax based on net worth. The franchise tax is based on the taxpayer’s net worth, which is the difference between the taxpayer's total assets less its total liabilities, as derived from the taxpayer’s books and records. Franchise & Excise Tax - Excise Tax All persons, except those with nonprofit status or otherwise exempt, are subject to a 6. TNTAP. Form FAE170 Franchise and Excise Tax Return, includes Schedules A-F, H-K, M, N-P, R-V Form FAE170 Instructions Nov 21, 2025 · The Tennessee Franchise and Excise (F&E) Tax is a dual levy imposed on most entities for the privilege of doing business or earning income within the state. In-state and out-of-state entities can both be subject to franchise and excise tax. 1 This legislation allows taxpayers that were required to use this method to file tax refund claims for the three prior tax years. All schedules and instructions are included. Businesses with physical locations, employees, or substantial revenue from Tennessee customers must comply with these tax obligations. Recent Franchise & Excise Tax Law Changes Tax Webinar: March 2024 Information is current as of the date presented and may not reflect legislative and other subsequent changes. The form includes sections for taxable income, adjustments, deductions, and credits, with specific instructions to ensure accurate compliance. Please see the descriptions of exempt entities shown below to determine if your entity qualifies for exemption. E-Filing of all other tax types not listed above Sales Tax Business Tax Franchise & Excise Tax General Registration Other (Motor Fuel, Rental Surcharge, etc. Some companies may be eligible to file an exemption. 7 Both taxes are solely for state purposes and Feb 20, 2025 · Tennessee’s tax laws primarily affect businesses and self-employed individuals operating in the state, but nonresidents conducting business in Tennessee may also be subject to franchise and excise taxes. Oct 12, 2022 · The excise tax will be $4,225. Bill Lee approved legislation which eliminates the property measure for computing the Tennessee Business Privilege Tax (franchise tax) for tax years ending on or after Jan. Cookies are required to Jun 5, 2025 · The Tennessee FAE 170 form is used for reporting franchise and excise taxes, combining both taxes in one annual return. Overview Franchise and excise tax is imposed on entities that operate in Tennessee and offer their owners limited liability protection. If you have a tax account and need to add another tax account, pleas Application for Extension of Time to File 2023 Franchise and Excise Tax Return RV-R0011401 (12/23) Overview Franchise and excise tax is imposed on entities that operate in Tennessee and offer their owners limited liability protection. Aug 20, 2023 · If you are registering a brand new business and do not have any tax accounts with the Department, please view instructions here. For example, a calendar year taxpayer’s return is due on Ap Forms currently accepted through MeF: Franchise, Excise Tax Return (FAE170) Application for Extension of Time to File (FAE173) Quarterly Franchise and Excise Tax Declarations (FAE172) Franchise, Excise Tax Exemption Renewal (FAE183) Financial Institutions/Real Estate Investment (FAE174) 7 Extensions A Apr 11, 2024 · Explore 2024 Small Business Taxes in Tennessee and Find out if Franchise, Business, and Excise Taxes Apply to Your Business. Electronic payment required (either through bank account or through the IRS Modernized e-File Program. When you have completed all of pages on the return, select the “Submit” button. Click “View/File Returns” next to the account. Code Ann. Oct 12, 2022 · The franchise and excise tax return is due on the 15th day of the fourth month following the closing of the taxpayer’s books and records. You can file for an exemption using the Tennessee Taxpayer Access Point (TNTAP), without creating a logon. TNTAP Instructions for Forms - FAE 182, 185, 186 & 187 When you first start to key the forms FAE 182, 185, 186, & 187 in TNTAP you will need to create a login, gain access to the Franchise & Excise tax account, & then you will be ready to key the informational form. Select Yes to “Is this a final return for termination or withdrawal?” File your final return for termination or withdrawal. However, other taxes apply to LLCs, including Business Tax and Franchise & Excise Tax. ) Pre-recorded information about our website Sep 15, 2023 · If starting a new business, follow instructions for Registering a New Business. The primary taxes you should plan for include the state business tax, franchise and excise taxes, and sales and use tax. Contact Us We are aware of a text message scam circulating claiming to be from the Tennessee Department of Revenue about tax refunds. Mar 3, 2025 · Understand Tennessee LLC tax requirements, including registration, franchise and excise taxes, and filing obligations to stay compliant. WHEN ARE THE TAXES DUE? Nov 25, 2025 · The franchise and excise tax return and minimum tax is required even if your charter or qualification has been forfeited, revoked or suspended without being properly dissolved, surrendered, withdrawn or otherwise properly terminated. Dec 5, 2024 · The introduction to TN FAE 170 instructions 2023 provides guidance on franchise and excise tax returns, including forms and schedules, for tax periods beginning January 1, 2023, using online platforms like TNTAP easily. Account IDs are 10 digits long and followed by a three- Franchise & Excise Tax - Tax GuidanceThe Relevance Inspector will open in the Coveo Administration Console. Remember to submit a Tennessee extension payment with your request. The election to use the alternative annualized income installment method of computing the required estimated tax payments can only be made on an original tax return and must be made annually. The amounts from Line 23 of the Tax guidance from the Department of Revenue on franchise & excise taxes. Click the “Amend” link. Businesses must adhere to filing deadlines to avoid penalties INSTRUCTIONS WHO MUST MAKE ESTIMATED TAX PAYMENTS: Taxpayers who expect a franchise, excise tax liability of $5,000 or more for the current tax year must file a declaration of their franchise, excise tax for the taxable year and make quarterly payments. The excise tax is based on the taxpayer’s net earnings or income for the tax year. Additionally, you can find legislative summaries by year/tax Mar 12, 2024 · You may register a new business through TNTAP. TNTAP Payments-2 – Franchise and Excise Tax Estimated Payments in TNTAP TNTAP Payments-3 – Cancelling or Deleting a Payment in TNTAP TNTAP Payments-4 – TNTAP Account Shows an Unpaid Balance TNTAP Payments-5 – Payments Made by Taxpayers Outside of the United States TNTAP Payments-6 – Printing a Payment Receipt in TNTAP The election to use the alternative annualized income installment method of computing the required estimated tax payments can only be made on an original tax return and must be made annually. Franchise & Excise Tax – General Information F&E-1 - Entity Types that File Franchise & Excise Tax Returns F&E-2 - Criteria That Must be Met Before There is a Filing Requirement F&E-3 - Filing Requirements for Disregarded Entities May 15, 2024 · To claim your refund, you must file amended franchise and excise tax returns for the applicable years and a Claim for Refund of Franchise Tax Paid on Property Measure (Schedule G) form before November 30, 2024. It applies to corporations, limited partnerships, limited liability companies, and business trusts chartered, qualified, or registered in Tennessee, or those doing business within the state. Jan 1, 2021 · A taxpayer may make an extension payment in TNTAP. See the Estimated Franchise and Excise Tax Payments Worksheet for additional information and to determine the required quarterly estimates under this alternative method. Apr 16, 2021 · ACH Debit transactions are initiated by you on the state's tax system to electronically transfer tax payments from your financial institution into the state's account. 6 These taxes are accrued taxes imposed on the privilege of doing business in this state or by exercising the corporate franchise. It is mandatory for eligible entities to file electronically via TNTAP. The scam directs users to provide payment details for the refund deposit to a fake website. If you have never been registered in Tennessee, please go to TNTAP and click “Register a New Business” under the Registration heading. § 67-4-2008 provides exemption from Tennessee’s franchise and excise taxes under certain situations. You can file for an exemption (without creating a logon) using the Tennessee Taxpayer Access Point (TNTAP). While Heard does not service these types of taxes, Aug 13, 2024 · You can search for your account number for the following tax types on Tennessee Taxpayer Access Point (TNTAP): Business tax Franchise and excise tax Hall income tax Motor Oil fee Sales and use tax Tire fee To determine your account number for other tax types, please contact the Taxpayer Services Division at (800) 342-1003 (in-state) or (615 Aug 5, 2025 · The Tennessee Franchise and Excise Tax is a business tax imposed on entities for the privilege of doing business in the state. The combined tax is a mandatory filing for nearly all corporations, Limited Liability Companies (LLCs), and certain May 15, 2024 · On May 10, 2024, Tennessee Gov. Select the File Now link for the current Franchise and Excise return. Jan 31, 2024 · All corporations, limited partnerships, LLCs, and business trusts that are chartered, qualified, or registered in TN or doing business in the state must file a Franchise/Excise Tax Return and pay Franchise/Excise tax of a minimum $100 each year. This can be filed and paid on TNTAP. The Application for Exemption should be completed by entities requesting exemption under provision of these laws. Franchise & Excise Tax - Due Dates and Tax Rates Estimated Payments Taxpayers are required to make estimated tax payments when there is a combined F&E tax liability of $5,000 or more (after applicable tax credits) for both the prior tax year and the current tax year. This user-friendly system allows businesses to register, file, and pay taxes securely. To create a TNTAP Username and Password, follow Nov 23, 2021 · In TNTAP, account numbers are referred to as account IDs. This kit does not include financial institutions or captive REIT. Cookies are required to use this site. Entities Exempt from Franchise & Excise Tax Seventeen different types of entities are exempt from the franchise and excise taxes. Click the “View or Amend Return” link. Using TNTAP you can file and pay taxes, check your account balances, view correspondence from the Tennessee Department of Revenue and more! You can Exemptions and Credits Entities Exempt from Franchise & Excise Tax: Seventeen different types of entities are exempt from the franchise and excise taxes. Small Business Taxes in Tennessee File Business Taxes Online in Tennessee The Tennessee Department of Revenue provides a digital tool called TNTAP (Tennessee Taxpayer Access Point). Apr 27, 2023 · To close a Franchise and Excise Tax Account: Log in to TNTAP. Making a non-logon payment Don’t Let Tax Compliance Put Your Business at Risk Franchise and excise taxes are part of doing business in Tennessee, but that doesn’t mean they’re simple. The most common tax types that you might need to register for are "Business Tax" and "Franchise & Excise Tax" To register for any of the above tax types, with the Department of Revenue, please visit the Tennessee Department of Revenue website and create a TNTAP account using this step-by-step instruction video or the steps listed on this page. If tax was paid according to this measure, the taxpayer should consider submitting both amended returns and refund claims via TNTAP. Unlike sales tax, which is collected at the point of sale, the state collects franchise and excise taxes from entities that engage in certain business activities. For installment payment agreements, the current interest rate remains 13. ) Penalty and interest charges may apply if the taxpayer fails to remit payments electronically. Please delete the text message and report it as junk if you receive it. Most of these activities require a license from the state, including many online sales. This type of business tax is also called a privilege tax and is . The amounts from Line 23 of the Instructions: Application for Exemption Tenn. 5% corporate excise tax on the net earnings from business conducted in Tennessee for the fiscal year. For the most up-to-date information, please refer to our published tax manuals and Revenue Help articles. The interest rate on all taxes collected or administered by the Department of Revenue is currently 11. Taxpayers are strongly recommended to file using TNTAP for a timely claim but may submit amended returns and refund claim forms on paper. Read more about exempt entities at the link on the left. Registration of Franchise Tax & Excise Taxes is available on the Tennessee Taxpayer Access Point (TNTAP). To apply, please go to the Tennessee Taxpayer Access Point (TNTAP) and select Register a New Business. 7 Both taxes are solely for state purposes and Jun 11, 2024 · TNTAP Tax Returns-6 – Amending a Return in TNTAP Paper or electronic returns can be amended through TNTAP. Your account ID can be found on correspondence issued by the Department of Revenue. Tennessee Department of Revenue Tennessee Taxpayer Access Point (TNTAP) Tennessee Taxpayer Access Point (TNTAP) Find answers to frequently asked questions and watch how-to videos on how to navigate the Tennessee Taxpayer Access Point (TNTAP) here. To pay without logging into TNTAP: Navigate to the main TNTAP page; Click on “Make an ACH Debit Payment” or “Make a Credit Card Payment” hyperlink and provide the information as Tennessee Taxpayer Access Point (TNTAP) Out-of-State Dealers, Marketplace Facilitators & Marketplace Sellers Taxes Vehicle Title & Registration Collection Services Motor Carrier General Drive Insured Tennessee Salvage/NMVTIS Reporting Tennessee does not have an individual state income tax. ACH Credit transactions are initiated with your financial institution using the information provided in our Electronic Payment Guide (below).