Franchise & Excise Tax

• ★ Are payments received under the Tennessee Business Relief Program or the Supplemental Employer Recovery Grant Program subject to franchise and excise tax and/or business tax in Tennessee?
• Is the forgiveness of federal Paycheck Protection Program (PPP) loan proceeds subject to Tennessee excise tax? Are expenses paid with PPP loan proceeds deductible for Tennessee excise tax purposes?
• My business received a Business Relief Program payment, and I recently received a 1099-G form. It looks like there may be some formatting issues. What do I do?
• When should I submit the Franchise and Excise Tax Application for Exemption/Annual Exemption Renewal (Form FAE183)? May I submit the application early?
• Are business interest expense carryforwards incurred during the 2018 and 2019 tax years deductible for excise tax purposes? If so, how do I track the carryforwards?
• Does the CARES Act of 2020 impact the excise tax return?
• What changes were made to the Brownfield Tax Credit during the 2020 legislative session?
• Based upon Notice #20-05, the April 15 due date for my 2019 F&E return has been extended to July 15. If I have an overpayment of tax when I file my 2019 F&E return on July 15, 2020, can it be applied to my 2020 quarterly estimated payments?
• Is there an extension of time to file and pay Tennessee's franchise and excise taxes for the tax period ending December 31, 2019?
• Federal income tax returns are due on October 15 for calendar year taxpayers that file an extension with the IRS. Can the taxpayer obtain an extension to November 15 for filing its F&E return?
• If a single member limited liability company (“SMLLC”) elects to be disregarded for federal tax purposes, can its corporate parent claim the SMLLC’s job tax credits on future franchise, excise tax returns?
• Has the State Funding Board made a certification regarding Special Revenues?
• Has the franchise and excise tax credit for service providers of broadband internet access been repealed?
• What are the franchise and excise tax filing requirements for an entity that has substantial nexus in the state but qualifies for protection under Public Law 86-272?
• May a taxpayer have substantial nexus in the state if it does not meet the bright–line presence standards?
• Is a physical presence required to establish nexus for franchise and excise taxes?
• What are the requirements for receiving a franchise & excise tax extension?
• How is the industrial machinery credit recapture calculated?
• Who must file a $100 minimum franchise tax return?
• What entity types file the franchise and excise tax return?
• For franchise tax purposes, is computer software considered tangible property includable on Schedule G?
• For franchise and excise tax purposes, should computer software be included in the property factor for apportionment purposes?
• Do Tennessee franchise and excise tax laws include a throwback provision for sourcing receipts to the state for apportionment purposes?
• For franchise and excise taxes, when must a consolidated net worth election form be filed?
• Do taxpayers have an option to delay claiming the standard job tax credit on their franchise and excise tax return?
• How Do I Make an Estimated Payment for Tennessee's Franchise and Excise Taxes?
• Is an adjustment needed to prevent the IRC Section 179 expense deduction from being deducted twice on the excise tax return?
• Why does my franchise and excise tax Notice of Overpayment not show my full credit balance available?
• How is owned property reported in the property factor of the apportionment ratio on a final return when a complete liquidation occurred in a single day?
• What is the due date for a franchise and excise tax return that covers less than 12 months?