Tennessee Franchise Excise 2022-2025 Form

Understanding the FAE173 Application for Extension of Time to File

The Tennessee Franchise Excise Form, commonly referred to as the FAE173, is a crucial document for businesses seeking an extension on their franchise and excise tax filing. This application allows entities to request additional time to file their tax returns without incurring penalties. The FAE173 is specifically designed for corporations, partnerships, and limited liability companies operating in Tennessee, ensuring they adhere to state tax regulations while managing their filing deadlines effectively.

Steps to Complete the FAE173 Application

Completing the FAE173 requires careful attention to detail to ensure compliance with Tennessee tax laws. Here are the steps to follow:

• Gather necessary information, including your business name, address, and taxpayer identification number.
• Indicate the reason for the extension request clearly on the form.
• Provide the estimated amount of tax owed, if applicable, to avoid penalties.
• Sign and date the application to validate it.
• Submit the completed form to the Tennessee Department of Revenue by the due date.

Legal Use of the FAE173 Application

The FAE173 serves as a legal request for an extension, ensuring that businesses can file their tax returns without facing immediate penalties. It is essential that the application is filled out accurately and submitted on time to maintain its legal standing. The Tennessee Department of Revenue recognizes eSignatures as valid, allowing businesses to complete and submit the FAE173 electronically, provided they comply with the necessary legal frameworks.

Filing Deadlines and Important Dates

Timely submission of the FAE173 is critical to avoid penalties. The application must be filed by the original due date of the franchise and excise tax return. Typically, this is the fifteenth day of the fourth month following the end of the tax year. For businesses operating on a calendar year, this means the FAE173 must be submitted by April 15. Keeping track of these deadlines helps ensure compliance and avoids unnecessary fees.

Required Documents for the FAE173 Application

To successfully complete the FAE173, certain documents may be necessary. These include:

• Previous year’s tax return for reference.
• Financial statements to estimate tax liability.
• Any correspondence from the Tennessee Department of Revenue related to your business.

Having these documents ready will streamline the process and help ensure that all information provided is accurate.

Form Submission Methods

The FAE173 can be submitted through various methods, providing flexibility for businesses. Options include:

• Online submission via the Tennessee Department of Revenue’s e-file system.
• Mailing a hard copy of the completed form to the appropriate department.
• In-person submission at a local Department of Revenue office.

Choosing the right method depends on your business's needs and resources, but electronic submission often provides the quickest confirmation.