The Department is required to allocate to each county or municipality a portion of franchise and excise tax revenues of every non-depository financial institution equal to 3% of that taxpayer’s net earnings, less 7% of the aggregate Tennessee ad valorem property taxes paid by the taxpayer on its real and tangible personal property. If a non-depository financial institution maintains multiple branches or offices in Tennessee, the Department is required to apportion this amount in proportion to the outstanding loan and sales contracts receivable at each branch or office.
How is Form FAE 186 helpful?
- What credentials are required under UCR?
- What is Intrastate Authority?
- Is a non-depository financial institution with no branch or office in Tennessee required to submit Form FAE 186?
- What are the UCR fees and how do I pay them?
- I use an online company to rent my property as a short-term rental. The company has notified me that they are going to collect sales tax on my behalf. Does this mean I am exempt from all Tennessee taxes?