For franchise tax purposes, is computer software considered tangible property includable on Schedule G?

No. Schedule G is based on the actual value of the real or tangible personal property owned or used in Tennessee. Because computer software is not tangible personal property  for franchise tax purposes, it  should not be included on Schedule G.    Even though capitalized software may be reported as a long-lived asset and amortized, it is nonetheless not tangible personal property for franchise tax purposes and should be omitted from Schedule G.

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