What is a consolidated net worth election?

A taxpayer that is a member of an affiliated group or a financial institution affiliated group may elect to compute its franchise tax net worth base on a consolidated basis. The election must be made before the due date of the tax return for the period for which the election is to take effect. 

Please note: The Consolidated Net Worth Election Registration Application must be filed prior to the statutory due date of the return if it is a new election. This application should be submitted separately from the tax return in order to be processed and approved prior to receipt of the tax return. Applications should be mailed to:

Tennessee Department of Revenue

Taxpayer Services Division

Andrew Jackson State Office Building

500 Deaderick Street

Nashville, TN 37242

 

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