What is an affiliated group for franchise & excise tax purposes?

An affiliated group is:

  • a taxpayer that, standing alone, is subject to the Tennessee franchise tax;
  • all domestic entities in which the taxpayer directly or indirectly has more than 50% ownership interest;
  • all domestic entities that, directly or indirectly, have more than 50% ownership interest in the taxpayer; and
  • all other domestic entities (regardless of whether or not they do business in Tennessee) in which the entity described in the previous bullet directly or indirectly has more than 50% ownership interest

For more information, see Important Notice 05-02.

Not finding answers? Submit a request

Comments

Powered by Zendesk