Tennessee Franchise and Excise Tax Return

TENNESSEE DEPARTMENT OF REVENUE - Franchise and Excise Tax Return

Tax Year Beginning:    Tax Year Ending:

Amended return    Final return for termination or withdrawal    Application of Public Law 86-272 to excise tax

Taxpayer has made an election to calculate net worth per the provisions of Tenn. Code Ann. § 67-4-2103(g)-(i)

Annualized income installment method election for quarterly estimates

Manufacturer single sales factor election

Taxpayer has filed for federal extension

Legal Name:

Mailing Address:

City:    State:    ZIP Code:

FEIN:    Account Number:

NAICS:    SOS Control Number:

Schedule A - Computation of Franchise Tax

1. Total net worth

2. Total real & tangible personal property

3. Franchise tax

Schedule B - Computation of Excise Tax

4. Income subject to excise tax

5. Excise tax

6. Recapture of tax credit / additional excise tax

7. Total excise tax due

Schedule C - Computation of Total Tax Due or Overpayment

8. Total franchise and excise taxes

9. Total credit

10. Net tax

11. Total payments

12. Penalty

13. Interest

14. Penalty on estimated payments

15. Interest on estimated payments

16. Total amount due / overpaid

A. Credit to next year’s tax $    B. Refund $

Under penalties of perjury, I declare that I have examined this report, and to the best of my knowledge and belief, it is true, correct, and complete.

Preparer's Address:

City:    State:    ZIP Code:

Preparer's Email Address:

Schedule D - Schedule of Credits

1. Gross Premiums Tax Credit

2. Tennessee Income Tax

3. Green Energy Tax Credit

4. Brownfield Property Credit

5. Industrial Machinery Credit

6. Job Tax Credit

7. Additional Annual Job Tax Credit

8. Total credit

Schedule E - Schedule of Required Quarterly Installments and Payments

1. Overpayment from previous year

2. First quarterly estimate Paid

3. Second quarterly estimate Paid

4. Third quarterly estimate Paid

5. Fourth quarterly estimate Paid

6. Extension payment

7. Total payments

Computation of Franchise Tax

Schedule F1 - Non-Consolidated Net Worth

1. Net worth

2. Indebtedness to parent or affiliated corporation

3. Total Lines 1 and 2

4. Franchise tax apportionment ratio %

5. Total

Schedule F2 - Consolidated Net Worth

1. Consolidated net worth

2. Franchise tax apportionment ratio %

3. Total

Schedule G - Determination of Real and Tangible Property

1. Land

2. Buildings, leaseholds, and improvements

3. Machinery, equipment, furniture, and fixtures

4. Automobiles and trucks

5. Prepaid supplies and other tangible personal property

6. Ownership share of partnership property

7a. Inventories and work in progress

7b. Exempt finished goods inventory in excess of $30 million

8. Certified pollution control equipment

9. Exempt required capital investment

10. Subtotal

Schedule H - Gross Receipts

1. Gross receipts or sales per federal income tax return

Schedule J - Computation of Net Earnings Subject to Excise Tax

1. Federal income or loss

2. Intangible expenses paid or incurred

3. IRC Section 168 depreciation adjustment

4. Gain on sale of asset

5. Tennessee excise tax expense

6. Gross premiums tax deducted

7. Interest income on obligations of states

8. Depletion not based on actual recovery of cost

9. Excess fair market value over book value of donated property

10. Excess rent to/from an affiliate

11. Net loss or expense from pass-through entity

12. Total additions

13. Permitted depreciation adjustment

14. Excess gain or loss from basis adjustment

15. Dividends received from corporations at least 80% owned

16. Donations to qualified organizations

17. Other expense allowed as federal credit

18. Safe harbor lease adjustment

19. Nonbusiness earnings

20. Intangible expenses paid to affiliated entity

21. Intangible income from affiliated business entity

22. Net gain or income received from pass-through entity

23. Total deductions

24. Total business income (loss)

25. Excise tax apportionment ratio %

26. Apportioned business income (loss)

27. Nonbusiness earnings directly allocated to Tennessee

28. Loss carryover from prior years

29. Subject to excise tax

Schedule K - Determination of Loss Carryover Available

1. Net loss from Schedule J

2. Amounts reported on Schedule J, Lines 15 and 19

3. Amounts reported on Schedule J1/J2

4. Reduced loss

5. Excise tax apportionment ratio %

6. Current year loss carryover available

Schedule M - Nonbusiness Earnings

Schedules N, O, P, R, S - Apportionment

Apportionment ratio entries and factor calculations may be entered below as needed for the applicable schedule.

Schedule T - Industrial Machinery and Research and Development Equipment

1. Purchase price of industrial machinery and research and development equipment

2. Percentage allowed %

3. Current year credit

4. Credit available from prior year(s)

5. Total credit available

6. Franchise and excise tax liability before any credits

7. Limitation on credit

8. Franchise and excise tax liability before any credits

9. Credits from Schedule D

10. Tax before Industrial Machinery Credit

11. Amount available in current year

12. Reduction to credit carryover table

13. Recapture of credit

Schedule U - Schedule of Loss Carryover

Schedule U entries:

Schedule V - Schedule of Industrial Machinery and Research and Development Equipment Credit Carryover

Schedule V entries: