The computation of the excise tax generally begins with the entity’s federal taxable income (ordinary income for partnerships), plus and minus certain Tennessee specific adjustments. The tax rate is 6.5% of Tennessee taxable income. See Schedule J of FAE170 for the Tennessee specific adjustments.
How is excise tax computed?
- How is franchise tax computed?
- When is a Single Member Limited Liability Company (SMLLC) required to file a franchise, excise tax return in Tennessee?
- What date does an entity formed outside of Tennessee first become subject to the franchise and excise tax?
- When is a Single Member Limited Liability Company (SMLLC) disregarded for franchise, excise purposes?
- How do I calculate the required amount of each franchise & excise tax estimated tax payment?