Franchise and Excise Taxes

Franchise and excise taxes are privilege taxes imposed on each corporation, limited partnership, limited liability company and business trust chartered/organized in Tennessee or doing business in this state.

DUE DATES
Annual – 15th day of the 4th month following the close of your books and records.

Quarterly estimated payments - 15th day of the fourth, sixth, and ninth months of the current tax year and the 15th day of the first month of the next succeeding tax year.

Extension – 6-month extension upon request

TAX RATES
Franchise tax – .25% of the greater of net worth or real and tangible property in Tennessee. The minimum tax is $100.

Excise tax – 6.5% of Tennessee taxable income

CONTACT PHONE NUMBERS
Statewide toll-free: (800) 397-8395
Nashville and Out-of-state: (615) 253-0700