Tenn. Code Ann. Section 67-4-2119. Minimum franchise tax - Do I need to pay?
The minimum franchise tax payable each year is $100. A taxable business that is inactive or has had its charter or registration forfeited, revoked, or suspended, but has not been dissolved or otherwise properly terminated or withdrawn, must file a return and pay the minimum tax.
Valid Entity ID
Please enter one of the following Entity ID:
Federal Employer's Identification Number (FEIN)
You must have a Federal Employer's Identification Number if your
business is a partnership, corporation, or if you pay wages to anyone
other than yourself. Sole proprietorships and general partnerships are
not liable for franchise and excise taxes.
Secretary of State (SOS)
This seven-digit number is assigned sequentially by the Secretary of
State when a company registers to do business in Tennessee.
Temporary Number
A temporary number is an Identification number the Department of
Revenue issues when a FEIN number is either not available or not
required for a particular business structure.
Primary Legal Address
Primary address is the corporate headquarters' address.
An Amended Return
A return filed to correct a return previously filed for the same tax period.
Taxpayer is inactive in Tennessee
An entity that is incorporated, domesticated, qualified or otherwise registered to do business in Tennessee but is not doing business in the state.
Final return for termination or withdrawal
A final return must be filed through the date of liquidation or the date the taxpayer ceased operations in Tennessee. The final franchise tax will be determined by using the balance sheet values immediately preceding liquidation or withdrawal. In all cases, the entity must submit a schedule of liquidation, distribution or disposition of all assets.
Member of a consolidated group
Unitary groups of financial institutions and business entities that have been required or permitted to file franchise, excise tax returns on a combined, consolidated or separate accounting basis under Tenn. Code Ann. Section 67-4-2014.
Member of a partnership operating in TN
An entity that is a partner or member of a partnership doing business in Tennessee.
Do you want a refund or credit?
Refund: A check will be issued to the taxpayer in the amount of the
overpayment.
Credit: The overpayment will be applied to the taxpayer's next tax
year.
What is your taxable year?
Your taxable year for Franchise and Excise Tax is the same as your taxable year for your Federal Income Tax. This is typically a 12 month period; however, in the case of a merger, acquisition, or termination, your taxable year can be less than 12 months.