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The amount of revenue collected by the government can then be calculated by multiplying the excise tax itself (t) by the quantity of goods that will be produced at this equilibrium (Q).
Franchise tax 0.25% of the greater of net worth or real and tangible property in Tennessee. The minimum tax is $100.
A SMLLC will not be disregarded if its single member is not classified as a corporation for federal tax purposes. In such cases, the SMLLC will be treated as a separate entity for franchise and excise tax purposes, and it must file its own separate franchise and excise tax return.
There are some exemptions to filing franchise and excise tax. For example, certain limited liability companies, limited partnerships and limited liability partnerships whose activities are at least 66% farming or holding personal residences where one or more of its partners or members reside are exempt.
The franchise tax is based on the greater of the entitys net worth or the book value of certain fixed assets, plus an imputed value of rented property. The excise tax is 6.5% of the net taxable income.
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The minimum franchise tax of $100 is payable if you are incorporated, domesticated, qualified, or otherwise registered through the Secretary of State to do business in Tennessee, regardless of whether the company is active or inactive.
Seventeen different types of entities are exempt from the franchise and excise taxes. Industrial Development Corporations. Masonic lodges and similar lodges. Regulated Investment Companies owning 75% in United States, Tennessee, or local bonds. Federal and state credit unions. Venture Capital Funds.
Franchise tax 0.25% of the greater of net worth or real and tangible property in Tennessee. The minimum tax is $100.
Certain entities under specific circumstances are exempt from paying the business tax. These may include, but are not limited to, people acting as employees, manufacturers, religious and charitable entities selling donated items, direct-to-home satellite providers, and movie theaters.
The franchise tax is based on the greater of the entitys net worth or the book value of certain fixed assets, plus an imputed value of rented property. The excise tax is 6.5% of the net taxable income.

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