You must notify the Department that you are closing your business so that your tax accounts may be closed out properly. Further instructions on how to close your business can be found on the Tennessee Department of Revenue’s website here. Failure to notify the Department of your business closure could result in estimated assessments of delinquent taxes, penalties, and interest being issued after your business has actually ceased operations. Even if your business has closed or ceased operations, the Department can continue to attempt to collect delinquent taxes, penalties, and interest due from when the business was in operation.
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