What date does an entity formed outside of Tennessee first become subject to the franchise and excise tax?

The earlier of either : 1) the date of registration with the Tennessee Secretary of State or  2) the date the entity began doing business in Tennessee. A foreign taxpayer may prorate its franchise tax to cover the proportionate part of the year since it began business in Tennessee, provided rent for property used that is included in the franchise tax minimum measure is annualized.

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