Tn form fae 170 instructions 2020-2025

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  1. Click ‘Get Form’ to open the tn form fae 170 in the editor.
  2. Begin by entering your Taxpayer Name and Mailing Address in the designated fields. Ensure all information is accurate for proper processing.
  3. Fill in the Account Number, Taxable Year, and Due Date as required. If your account number is not preprinted, enter your federal identification or social security number.
  4. Complete the Estimated Franchise, Excise tax liability section by entering amounts for each line item. Round to the nearest dollar as instructed.
  5. Review the reminders provided on the form to ensure compliance with payment requirements and deadlines.
  6. Once all fields are filled out correctly, save your document and utilize our platform’s features to sign and distribute it as needed.

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How is Tennessees excise tax computed? The excise tax is based on net earnings or income for the tax year. The rate is 6.5 percent of Tennessee taxable income.
Submit the FAE170 form electronically via the Tennessee Taxpayer Access Point (TNTAP). For hard copy submissions, fax your completed form to the Department of Revenue at (615) 253-0981 or mail it to P.O. Box 190645, Nashville, TN 37219-0645.
The formula is quantity tax per unit = tax liability. For example, a brewery produces roughly 2,000 liters of beer each day. The federal government charges an excise duty worth $5 per liter. Therefore, they would have to pay $10,000 to sell 2,000 liters of beer each day (2,000 x $5 = $10,000).
If you are a corporation, limited partnership, limited liability company, or business trust chartered, qualified, or registered in Tennessee or doing business in this state, then you must register for and pay franchise and excise taxes.
Pay while logged into TNTAP: Log into TNTAP. Select your FAE Account and Period, then select the Make a Payment link in the I Want To section. Choose ACH Debit or Credit Card, and then fill in the information requested. Once completed, click the Submit button.
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Sales Tax State Sales Tax is 7% of purchase price less total value of trade in. Local Sales Tax is 2.25% of the first $1,600. This amount is never to exceed $36.00. For. purchases in excess of $1,600, an additional state tax of 2.75% is added up to a. maximum of $44. Local collection fee is $1.
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.

tn fae 172 instructions