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Franchise & Excise Taxes

Taxes at a Glance

Franchise and excise taxes are privilege taxes imposed on each corporation, limited partnership, limited liability company and business trust chartered/organized in Tennessee or doing business in this state.

Due Dates:

Annual - 15th day of the 4th month following the close of your books and records.
Quarterly estimated payments - 15th day of the fourth, sixth, and ninth months of the current tax year and the 15th day of the first month of the next succeeding tax year.
Extension - 6-month extension upon request

Tax Rates:

Franchise tax - .25% of the greater of net worth or real and tangible property in Tennessee. The minimum tax is $100.
Excise tax - 6.5% of Tennessee taxable income

For more information, please call (615) 397-8395.

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