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Business tax can be filed and paid online using the Tennessee Taxpayer Access Point (TNTAP). A TNTAP logon should be created to file this tax. Click here for help creating your logon.
What is the franchise tax in Tennessee?
Franchise tax 0.25% of Tennessee net worth.
What is the Tennessee business tax?
Tennessees business tax is a privilege tax imposed on a businesss gross sales of tangible personal property and services, for the privilege of doing business in the state. It consists of the state business tax and the city business tax.
Is business privilege tax the same as franchise tax?
The following states have franchise (aka privilege) tax: Alabama. Arkansas. California*
What is the difference between Tennessee business tax and franchise tax?
The franchise tax is based on the greater of net worth or the book value of real and tangible personal property owned or used in Tennessee. The excise tax is based on net earnings or income for the tax year.
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People also ask
Who is exempt from business tax in Tennessee?
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.
Who needs to file a TN business tax return?
Overview. Generally, if you conduct business within any county and/or incorporated municipality in Tennessee, and your business grosses $100,000 or more, then you should register for and remit business tax. Business tax consists of two separate taxes: the state business tax and the city business tax.
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