Form Fae 170 PDF Details

The FAE 170 form is an essential document for businesses operating within Tennessee, serving as the Franchise and Excise Tax Return guide required by the Tennessee Department of Revenue. This form, with its detailed sections, captures a wide array of information crucial for accurately reporting and calculating a business' franchise and excise taxes. Key features include the computation of franchise tax based on total net worth or tangible property, excise tax calculations derived from income subject to these taxes, and various tax credits that businesses might be eligible for. The form also outlines the specific elections businesses may make, such as the election to calculate net worth per Tennessee Code Ann. § 67-4-2103(g)-(i) provisions or the manufacturer single sales factor election. Additionally, it includes schedules for the delineation of payments and credits against the tax due, penalties, and the contemplation of overpayments. Importantly, the form serves as a declaration under penalty of perjury that the information provided is correct and complete to the best of the filer's knowledge. With placeholders for taxpayer and preparer signatures, it emphasizes the legal obligation of the submitting party to ensure the accuracy and completeness of the filing. Moreover, the FAE 170 accommodates unique situations like amended or final returns, making it flexible to cater to various taxable scenarios of businesses across Tennessee.

QuestionAnswer
Form NameForm Fae 170
Form Length8 pages
Fillable?No
Fillable fields0
Avg. time to fill out2 min
Other names Franchise & Excise Tax Forms - Tennessee

Form Preview Example

RV-R0011001 (8/20)

TENNESSEE DEPARTMENT OF REVENUE

FRANCHISE AND EXCISE TAX RETURN

FAE

Tax Year Beginning

Account Number

 

 

 

170

 

 

 

Tax Year Ending

FEIN

 

 

 

 

 

NAICS

SOS Control Number

 

 

 

 

Legal Name

 

 

 

 

 

 

Mailing Address

 

 

 

 

 

 

City

 

 

 

 

 

 

State

 

ZIP Code

 

 

 

 

Check all that apply:

a) Amended return

b) Final return

c) Public Law 86-272 applied to excise tax

d)Taxpayer has made an election to calculate net worth per the provisions of Tenn. Code Ann. § 67-4-2103(g)-(i)

e)Taxpayer has filed the prescribed form to revoke its election made per Tenn. Code Ann. § 67-4-2103(g)-(i)

f)Annualized income installment method for quarterly estimates election

g) Manufacturer single sales factor election

h) Taxpayer has filed for federal extension

Date Tennessee operations began (see instructions)

Schedule A ‑ Computation of Franchise Tax

 

Round to the nearest dollar

1.

Total net worth Schedule F1, Line 5 or Schedule F2, Line 3

(1)

______________________________________

2.

Total real and tangible personal property from Schedule G, Line 15

(2)

______________________________________

3.

Franchise tax (25¢ per $100 or major fraction thereof on the greater of Lines 1 or 2; minimum $100)

(3)

______________________________________

Schedule B ‑ Computation of Excise Tax

 

 

4.

Income subject to excise tax from Schedule J, Line 34

(4)

______________________________________

5.

Excise tax (6.5% of Line 4)

(5)

______________________________________

6.

Recapture of tax credit (Schedule T, Line 13) and additional excise tax on certified distribution sales

(6)

______________________________________

7.

Total excise tax due (add Lines 5 and 6)

(7)

______________________________________

Schedule C ‑ Computation of Total Tax Due or Overpayment

 

 

8.

Total franchise and excise taxes (add Lines 3 and 7)

(8)

______________________________________

9.

Total credit from Schedule D, Line 9 (cannot exceed Schedule C, Line 8)

 

 

(9)

______________________________________

 

10.

Net tax (subtract Line 9 from Line 8; if Line 9 exceeds Line 8, enter zero here)

 

 

(10)

______________________________________

11.

Total payments from Schedule E, Line 7

 

 

(11)

______________________________________

12.

Penalty (see instructions)

(12)

______________________________________

13.

Interest (see instructions)

(13)

______________________________________

14.

Penalty on estimated franchise and excise tax payments

(14)

______________________________________

15.

Interest on estimated franchise and excise tax payments

(15)

______________________________________

16.

Total amount due (overpaid) (add Lines 10, 12, 13, 14, and 15, subtract Line 11)

(16)

______________________________________

 

If overpayment reported on Line 16, complete A and/or B below:

 

 

A. Credit to next year’s tax $______________________________________ B. Refund $ _______________________________

 

 

Under penalties of perjury, I declare that I have examined this report, and to the best of my knowledge

Power of Attorney - Check YES if this taxpayer's

 

and belief, it is true, correct, and complete.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

signature certifies that this tax preparer has

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

the authority to execute this form on behalf

 

Taxpayer's Signature

 

 

 

 

Date

 

 

Title

 

 

 

 

 

 

 

of the taxpayer and is authorized to receive

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and inspect confidential tax information and

 

Tax Preparer's Signature

 

Preparer's PTIN

 

Date

 

 

Telephone

to perform any and all acts relating to respec-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

tive tax matters.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preparer's Address

 

 

 

City

 

 

 

 

State

 

ZIP Code

YES

 

Preparer's Email Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOR OFFICE USE ONLY

Rental Value of Property Used but Not Owned

page 2

Taxable Year

Taxpayer Name

Account No./FEIN

Schedule D ‑ Schedule of Credits

1.

Gross Premiums Tax Credit (cannot exceed Schedule C, Line 8)

(1)

_____________________________

2.

Tennessee income tax (cannot exceed Schedule B, Line 5)

(2)

_____________________________

3.

Green Energy Tax Credit from business plans filed prior to July 1, 2015

(3)

_____________________________

4.

Brownfield Property Credit

(4)

_____________________________

5.

Broadband Internet Access Tax Credit carryover for service providers

(5)

_____________________________

6.

Industrial Machinery and Research and Development Tax Credit from Schedule T, Line 11

(6)

_____________________________

7.

Job Tax Credit from Schedule X, Line 46

(7)

_____________________________

8.

Additional Annual Job Tax Credit from Schedule X, Line 38

(8)

_____________________________

9.

Total credit (add Lines 1 through 8; enter here and on Schedule C, Line 9)

(9)

_____________________________

Schedule E ‑ Schedule of Required Quarterly Installments and Payments

 

 

 

Required Quarterly

 

 

 

Installments

1.

Overpayment from previous year, if available

...........................................................................................

2.

First quarterly estimate

(2a)

________________________

3.

Second quarterly estimate

(3a)

________________________

4.

Third quarterly estimate

(4a)

________________________

5.

Fourth quarterly estimate

(5a)

________________________

6.Extension payment.........................................................................................................................................

7.Total payments (add Lines 1 through 6; enter here and on Schedule C, Line 11) .................................

Amount Paid

(1)_____________________________

(2b)____________________________

(3b)____________________________

(4b)____________________________

(5b)____________________________

(6)_____________________________

(7)_____________________________

Computation of Franchise Tax

Schedule F1 ‑ Non‑Consolidated Net Worth

1.

Net worth (total assets less total liabilities)

(1)

____________________________

2.

Indebtedness to or guaranteed by parent or affiliated corporation (cannot be a deduction)

(2)

____________________________

3.

Total (add Lines 1 and 2)

(3)

____________________________

4.

Franchise tax apportionment ratio (Schedules N, O, P, R or S if applicable or 100%)

(4)

%

5.

Total (multiply Line 3 by Line 4; enter here and on Schedule A, Line 1)

(5)

____________________________

Schedule F2 ‑ Consolidated Net Worth

Schedule F2 is to be completed only if the Consolidated Net Worth Election Registration Application has been filed.

1.

Consolidated net worth (total assets less total liabilities of the affiliated group)

(1)

____________________________

2.

Franchise tax apportionment ratio (Schedule 170NC, 170SF or 170SC)

(2)

%

3.

Total (multiply Line 1 by Line 2; enter here and on Schedule A, Line 1)

(3)

____________________________

Schedule G ‑ Determination of Real and Tangible Property

 

Book Value of Property Owned ‑ Cost less accumulated depreciation

 

In Tennessee

1.

Land

(1)

____________________________

2.

Buildings, leaseholds, and improvements

(2)

____________________________

3.

Machinery, equipment, furniture, and fixtures

(3)

____________________________

4.

Automobiles and trucks

(4)

____________________________

5.

Prepaid supplies and other tangible personal property

(5)

____________________________

6.

Ownership share of real and tangible property of a partnership that does not file a return

(6)

____________________________

7.

a. Inventories and work in progress

(7a)

____________________________

 

b. Exempt finished goods inventory in excess of $30 million

(7b)

____________________________

8.Certified pollution control equipment (include copy of certificate) and equipment used to

 

produce electricity at a certified green energy production facility

.............................................................. (8)

____________________________

9.

Exempt required capital investment

(9)

____________________________

10.

Subtotal (add Lines 1 through 7a, subtract Lines 7b through 9)

(10)

____________________________

 

Net Annual Rental Paid for:

In Tennessee

 

 

 

 

 

 

 

 

11.

Real property

_____________________

x8

(11)

_____________________________

12.

Machinery and equipment used in manufacturing and processing....

_____________________

x3

(12)

_____________________________

13.

Furniture, office machinery, and equipment

_____________________

x2

(13)

_____________________________

14.

Delivery or mobile equipment

_____________________

x1

(14)

_____________________________

15.

Tennessee total (add Lines 10 through 14; enter here and on Schedule A, Line 2)

(15)

____________________________

Schedule H ‑ Gross Receipts

1. Gross receipts or sales per federal income tax return

(1) ____________________________

page 3

Taxable Year

Taxpayer Name

Account No./FEIN

Computation of Excise Tax

Schedule J1 ‑ Computation of Net Earnings for Entities Treated as Partnerships

 

Additions:

 

 

1.

Ordinary income or loss (federal Form 1065, Line 22)

(1)

_____________________________

2.

Income items specifically allocated to partners, including guaranteed payments to partners

(2)

_____________________________

3.

Any net loss or expense distributed to a publicly traded REIT

(3)

_____________________________

4.

Total additions (add Lines 1 through 3)

(4)

_____________________________

 

Deductions:

 

 

5.

Expense items specifically allocated to partners not deducted elsewhere

(5)

_____________________________

6.Amount subject to self-employment taxes distributable or paid to each partner or member net of

any pass-through expense deducted elsewhere on this return (if negative, enter zero) (include on

 

Schedule K, Line 3)

(6) _____________________________

7.Amount of contribution to qualified pension or benefit plans of any partner or member, including

 

all IRC 401 plans (include on Schedule K, Line 3)

(7)

_____________________________

8.

Any net gain or income distributed to a publicly traded REIT

(8)

_____________________________

9.

Any loss on the sale of an asset sold within 12 months after the date of distribution

(9)

_____________________________

10.

Total deductions (add Lines 5 through 9)

(10)

_____________________________

11.

Total (subtract Line 10 from Line 4; enter here and on Schedule J, Line 1)

(11)

_____________________________

Schedule J2 ‑ Computation of Net Earnings for a Single Member LLC Filing as an Individual

 

Additions:

 

 

1.

Business Income or loss from federal Form 1040, Schedule C

(1)

_____________________________

2.

Business Income or loss from federal Form 1040, Schedule D

(2)

_____________________________

3.

Business Income or loss from federal Form 1040, Schedule E

(3)

_____________________________

4.

Business Income or loss from federal Form 1040, Schedule F

(4)

_____________________________

5.

Business Income or loss from federal Form 4797

(5)

_____________________________

6.

Other: federal Form __________ , Schedule ____________

(6)

_____________________________

7.

Total additions (add Lines 1 through 6)

(7)

_____________________________

 

Deductions:

 

 

8.

Amount subject to self-employment taxes distributable or paid to the single member (if negative,

 

 

 

enter zero; include on Schedule K, Line 3)

(8)

_____________________________

9.

Total (subtract Line 8 from Line 7; enter here and on Schedule J, Line 1)

(9)

_____________________________

Schedule J3 ‑ Computation of Net Earnings for Entities Treated as Subchapter S Corporations

 

Additions:

 

 

1.

Ordinary income or loss (federal Form 1120S, Line 21)

(1)

_____________________________

2.

Income items to extent includable in federal income were it not for "S" status election

(2)

_____________________________

3.

Total additions (add Lines 1 and 2)

(3)

_____________________________

 

Deductions:

 

 

4.

Expense items to extent includable in federal expenses were it not for "S" status election

(4)

_____________________________

5.

Any loss on the sale of an asset sold within 12 months after the date of distribution

(5)

_____________________________

6.

Total deductions (add Lines 4 and 5)

(6)

_____________________________

7.

Total (subtract Line 6 from Line 3; enter here and on Schedule J, Line 1)

(7)

_____________________________

Schedule J4 ‑ Computation of Net Earnings for Entities Treated as Corporations and Other Entities

Additions:

1.Taxable income or loss before net operating loss deduction and special deductions

(federal Form 1120, Line 28)

(1) _____________________________

2.a. REIT taxable income before net operating loss deduction and special deductions (federal Form

 

1120-REIT, Line 20)

(2a) _______________________

 

 

b.REIT deduction for dividends paid (federal Form 1120-REIT, Line 21b)...

(2b) _______________________

 

 

c. REIT taxable income after dividends paid deduction (subtract Line 2b from Line 2a)

(2c)

_____________________________

3.

Unrelated business taxable income (federal Form 990-T, Line 30)

(3)

_____________________________

4.

Other: federal Form __________

(4)

_____________________________

5.

Contribution carryover from prior period(s)

(5)

_____________________________

6.

Capital gains offset by capital loss carryover or carryback

(6)

_____________________________

7.

Total additions (add Lines 1 through 6)

(7)

_____________________________

 

Deductions:

 

 

 

8.

Contributions in excess of amount allowed by federal government

(8)

_____________________________

9.

Portion of current year’s capital loss not included in federal taxable income

(9)

_____________________________

10.

Total deductions (add Lines 8 and 9)

(10)

_____________________________

11.

Total (subtract Line 10 from Line 7; enter here and on Schedule J, Line 1)

(11)

_____________________________

page 4

Taxable Year

Taxpayer Name

Account No./FEIN

Schedule J ‑ Computation of Net Earnings Subject to Excise Tax

1.

Adjusted federal income or loss (enter amount from Schedule J1, J2, J3, or J4)

(1)

__________________________

 

Additions:

 

 

 

2.

Intangible expenses paid, accrued, or incurred to an affiliated business entity or entities deducted for

 

 

 

federal income tax purposes

(2)

__________________________

3.

Any depreciation under the provisions of IRC Section 168 not permitted for excise tax purposes due to

 

 

 

Tennessee permanently decoupling from federal bonus depreciation

(3)

__________________________

4.

Gain on the sale of an asset sold within 12 months after the date of distribution to a nontaxable entity

..(4)

__________________________

5.

Tennessee excise tax expense (to the extent reported for federal income tax purposes)

(5)

__________________________

6.

Gross premiums tax deducted in determining federal income and used as an excise tax credit

(6)

__________________________

7.

Interest income on obligations of states and their political subdivisions, less allowable amortization

(7)

__________________________

8.

Depletion not based on actual recovery of cost

(8)

__________________________

9.

Excess fair market value over book value of property donated

(9)

__________________________

10.

Excess rent to/from an affiliate

(10)

__________________________

11.

Net loss or expense received from a pass-through entity subject to the excise tax (attach schedule)

(11)

__________________________

12.

An amount equal to five percent of IRC Section 951A global intangible low-taxed income

 

 

 

deducted on Line 26

(12)

__________________________

13.

Business interest expense deducted in arriving at the amount reported on Sch. J, Line 1. Only

 

 

 

complete if federal Form 8990 was filed. See instructions

(13) __________________________

14.

Total additions (add Lines 2 through 13)

(14)

__________________________

 

Deductions:

 

 

 

15.

Any depreciation under the provisions of IRC Section 168 permitted for excise tax purposes due to

 

 

 

Tennessee permanently decoupling from federal bonus depreciation

(15)

__________________________

16.

Any excess gain (or loss) from the basis adjustment resulting from Tennessee permanently

 

 

 

decoupling from federal bonus depreciation

(16)

__________________________

17.

Dividends received from corporations at least 80% owned

(17)

__________________________

18.

Donations to qualified public school support groups and nonprofit organizations

(18)

__________________________

19.

Any expense other than income taxes not deducted in determining federal taxable income for which

 

 

 

a credit against the federal income tax was allowed

(19)

__________________________

20.

Adjustments related to the safe harbor lease election (see instructions)

(20)

__________________________

21.

Nonbusiness earnings (from Schedule M, Line 8)

(21)

__________________________

22.

Intangible expenses paid, accrued, or incurred to an affiliated entity or entities (from Form IE, Line 4)

 

 

 

Attach Form IE - Intangible Expense Disclosure

(22)

__________________________

23.

Intangible income from an affiliated business entity or entities if the corresponding intangible

 

 

 

expenses have not been deducted by the affiliate(s) under Tenn. Code Ann. § 67-4-2006(b)(2)(N)

(23)

__________________________

24.

Net gain or income received from a pass-through entity subject to the excise tax (attach schedule)

(24)

__________________________

25.

Grants from governmental units to the extent included in federal taxable income

(25)

__________________________

26.

IRC Section 951A global intangible low-taxed income

(26)

__________________________

27.

a. Business interest expense currently deductible. See instructions

(27a) __________________________

 

b. Business interest expense carryforward available for future tax years

(27b)________________________

 

28.

Total deductions (add Lines 15 through 27a)

(28)

__________________________

 

Computation of Taxable Income

 

 

 

29.

Total business income (loss) (add Lines 1 and 14, subtract Line 28; if loss, enter on Schedule K, Line 1)..

(29)

__________________________

30.

Excise tax apportionment ratio (Schedules N, O, P, R or S if applicable or 100%)

(30)

%

31.

Apportioned business income (loss) (multiply Line 29 by Line 30)

(31)

__________________________

32.

Nonbusiness earnings directly allocated to Tennessee (from Schedule M, Line 9)

(32)

__________________________

33.

Loss carryover from prior years (from Schedule U)

(33)

__________________________

34.

Subject to excise tax (add Line 31 and 32, subtract Line 33; enter here and on Schedule B, Line 4)

(34)

__________________________

page 5

Taxable Year

Taxpayer Name

Account No./FEIN

Schedule K ‑ Determination of Loss Carryover Available

1.

Net loss from Schedule J, Line 29

(1)

__________________________

 

Additions:

 

 

2.

Amounts reported on Schedule J, Lines 17 and 21

(2)

__________________________

3.

Amounts reported on Schedule J1, Lines 6 and 7, or Schedule J2, Line 8

(3)

__________________________

4.

Reduced loss (add Lines 1 through 3; if net amount is positive, enter zero)

(4)

__________________________

5.

Excise tax apportionment ratio (Schedules N, O, P, R or S if applicable or 100%)

(5)

%

__________________________

6.

Current year loss carryover available (multiply Line 4 by Line 5)

(6)

__________________________

Schedule M ‑ Nonbusiness Earnings Allocation

Allocation and apportionment schedules may be used only by taxpayers doing business outside the state of Tennessee within the mean-

ing of Tenn. Code Ann. §§ 67-4-2010 and 67-4-2110. The burden is on the taxpayer to show that the taxpayer has the right to apportion.

If all earnings are business earnings as defined below, do not complete this schedule. Any nonbusiness earnings, less related expenses, are subject to direct allocation and should be reported in this schedule.

"Business Earnings" - 1) earnings arising from transactions and activity in the regular course of the taxpayer’s trade or business, or

2)earnings from tangible and intangible property if the acquisition, use, management, or disposition of the property constitutes an integral part of the taxpayer’s regular trade or business operations.

Earnings which arise from the conduct of the trade or trades or business operations of a taxpayer are business earnings, and the taxpayer must show by clear and cogent evidence that particular earnings are classifiable as nonbusiness earnings. A taxpayer may

have more than one regular trade or business in determining whether income is business earnings.

"Nonbusiness Earnings" - all earnings other than business earnings

 

 

 

 

Net Amounts

Description of Nonbusiness Earnings

Gross

*Less Related

Net

Allocated Directly

(If further description is necessary, see below)

Amounts

Expenses

Amounts

to Tennessee

1.___________________________________________________________________________________________________________________________________________

2.___________________________________________________________________________________________________________________________________________

3.___________________________________________________________________________________________________________________________________________

4.___________________________________________________________________________________________________________________________________________

5.___________________________________________________________________________________________________________________________________________

6.___________________________________________________________________________________________________________________________________________

7.___________________________________________________________________________________________________________________________________________

8. Total nonbusiness earnings (Enter here and on Schedule J, Line 21)

9. Nonbusiness earnings allocated directly (Enter here and on Schedule J, Line 32)

If necessary, describe source of nonbusiness earnings and explain why such earnings do not constitute business earnings as defined above. Enumerate these items to correspond with items listed above.

*As a general rule, the allowable deductions for expenses of a taxpayer are related to both business and nonbusiness earnings. Items such as administrative costs, taxes, insurance, repairs, maintenance, and depreciation are to be considered. In the absence of evidence to the contrary, it is assumed that the expenses related to nonbusiness rental earnings will be an amount equal to 50% of such earnings and that expenses related to other nonbusiness earnings will be an amount equal to 5% of such earnings (see TENN. COMP. R. & REGS.

1320-06-01.23(3)).

page 6

Taxable Year

Taxpayer Name

Account No./FEIN

Schedule N ‑ Apportionment ‑ Standard

Property

In Tennessee

Total Everywhere

 

 

 

Use original cost of assets

a. Beginning of Taxable Year b. End of Taxable Year

a. Beginning of Taxable Year b. End of Taxable Year

1.Land, buildings, leaseholds, and improvements .......... _______________________________________________________________________________________________________________________________________________

2.

Machinery, equipment, furniture, and fixtures

_______________________________________________________________________________________________________________________________________________

3.

Automobiles and trucks

_______________________________________________________________________________________________________________________________________________

4.

Inventories and work in progress

_______________________________________________________________________________________________________________________________________________

5.

Prepaid supplies and other property

_______________________________________________________________________________________________________________________________________________

6.

Ownership share of real and tangible property

 

 

 

 

 

of a partnership that does not file a return

_______________________________________________________________________________________________________________________________________________

7.

Excise tax total (add Lines 1 through 6)

a.

b.

a.

b.

_______________________________________________________________________________________________________________________________________________

8.

Exempt inventory

_______________________________________________________________________________________________________________________________________________

9.

Franchise tax total (subtract Line 8 from Line 7)

a.

b.

a.

b.

__________________________________________________________________________________________________________________________

10.

Excise tax average value (add Lines 7(a) & (b), divide by two) ...

_______________________________________________________________________________________________________________________________________________

11.Franchise tax average value (add Lines 9(a) & (b), divide by two)_______________________________________________________________________________________________________________________________________________

12. Rented property (rent paid x 8)

_______________________________________________________________________________________________________________________________________________

 

 

 

 

 

 

Use triple weighted sales factor

a. In Tennessee

b. Total Everywhere

c. Franchise Ratio

d. Excise Ratio

13.Excise tax property factor (add Lines 10 and 12)........... _______________________________________________________________________________________________________________________________________________%

14.Franchise tax property factor (add Lines 11 and12)..... _______________________________________________________________________________________________________________________________________________%

15.

Payroll factor

%

%

16.

Sales factor (business gross receipts)

%

%

 

 

_______________________________________________________________________________________________________________________________________________

17.Total ratios (add Lines 13-15 and (Line 16 x three))..... _______________________________________________________________________________________________________________________________________________%%

18.Apportionment ratio (divide Line 17 by five, or by the number of factors with everywhere values greater than zero)

(Enter franchise tax apportionment ratio on Sch. F1, Line 4. Enter excise tax apportionment ratio on Sch. J, Line 30.)

%

%

 

 

 

Schedule O ‑ Apportionment ‑ Common Carriers (railroads, motor carriers, pipelines and barges)

 

 

 

In Tennessee

Total Everywhere

Ratio

 

1.

Total franchise mileage (odometer miles)

 

____________________________________________________________________________________________

2.

Tennessee gross intrastate receipts and interstate gross receipts everywhere

 

 

 

%

 

 

____________________________________________________________________________________________

3.

Total ratios (add Lines 1 and 2)

 

 

 

%

 

 

____________________________________________________________________________________________

 

 

 

 

 

 

 

4. Apportionment ratio (divide Line 3 by two, or by the number of factors with everywhere values greater than zero) (Enter franchise tax

 

apportionment ratio on Schedule F1, Line 4. Enter excise tax apportionment ratio on Schedule J, Line 30.)

  

%

Schedule P ‑ Apportionment ‑ Air Carriers

 

 

 

In Tennessee

Total Everywhere

Ratio

 

1.

Originating revenue

 

____________________________________________________________________________________________

2.

Air miles flown (Include in Tennessee column only air miles flown on flights either

 

 

 

%

 

 

originating from or ending in Tennessee or both)

 

 

 

 

 

 

____________________________________________________________________________________________

3.

Total ratios (add Lines 1 and 2)

 

 

 

%

 

 

____________________________________________________________________________________________

4.

Apportionment ratio (divide Line 3 by two, or by the number of factors with everywhere values greater than zero) (Enter franchise tax

 

 

 

apportionment ratio on Schedule F1, Line 4. Enter excise tax apportionment ratio on Schedule J, Line 30.)

  

%

 

Schedule R ‑ Apportionment ‑ Air Express Carriers

In Tennessee

Total Everywhere

Ratio

1. Originating revenue

%

____________________________________________________________________________________________

2.Air miles flown and ground miles traveled (Include in Tennessee column only air miles flown on flights either originating from or ending in Tennessee or both.

 

Include only ground miles traveled with respect to actual common carriage of

 

 

 

%

 

 

 

 

 

 

persons or property for hire.)

____________________________________________________________________________________________

 

3. Total ratios

 

 

 

%

 

 

____________________________________________________________________________________________

 

4. Apportionment ratio (divide Line 3 by two, or by the number of factors with everywhere values greater than zero) (Enter franchise tax

%

 

apportionment ratio on Schedule F1, Line 4. Enter excise tax apportionment ratio on Schedule J, Line 30.)

 

 

 

______________________________

 

 

 

 

 

 

Schedule S ‑ Apportionment ‑ Manufacturer Single Sales Factor

 

 

 

 

 

 

 

 

 

1. Sales factor (business gross receipts) (Enter franchise tax apportionment ratio on

 

In Tennessee

Total Everywhere

Ratio

 

 

 

 

 

 

 

 

 

%

 

Schedule F1, Line 4. Enter excise tax apportionment ratio on Schedule J, Line 30.)

.....

 

 

 

 

 

 

 

 

page 7

Taxable Year

Taxpayer Name

Account No./FEIN

Schedule T ‑ Industrial Machinery and Research and Development Equipment Tax Credit

Part 1: Tax Credit Computation

Franchise and excise taxes may be reduced by a credit on industrial machinery and research and development equipment purchased during the tax period covered by the return and located in Tennessee. The credit is generally computed at 1% of the purchase price of qualified

industrial machinery and research and development equipment. The credit taken on any return cannot exceed 50% of the current year’s franchise and excise tax liability, but any unused credit may be carried forward 15 years under Tenn. Code Ann. § 67-4-2009(3).

1.

Purchase price of industrial machinery and research and development equipment

(1)

__________________________

2.

Percentage allowed (generally 1%*)

(2)

%

__________________________

3.

Current year credit (multiply Line 1 by Line 2)

(3)

__________________________

4.

Credit available from prior year(s) (from Schedule V)

(4)

__________________________

5.

Total credit available (add Lines 3 and 4)

(5)

__________________________

6.

Franchise and excise tax liability before any credits (add Schedule A, Line 3 and Schedule B, Line 5)

(6)

__________________________

7.

Limitation on credit (50% of Line 6)

(7)

__________________________

8.

Franchise and excise tax liability before any credits (add Schedule A, Line 3 and Schedule B, Line 5)

(8)

__________________________

9.

Credits from Schedule D, Lines 1 through 5 and Schedule D, Line 8

(9)

__________________________

10.

Tax before Industrial Machinery Credit (subtract Line 9 from Line 8)

(10)

__________________________

11.

Amount available in current year (enter the smaller value of Lines 5, 7, or 10 here, and on

 

 

 

Schedule D, Line 6)

(11)

__________________________

Part 2: Recapture of Tax Credit

The Industrial Machinery Tax Credit previously established on this form must be partially recaptured if the equipment on which it was based was sold or removed from the state before the end of the equipment’s life as established for federal income tax purposes. The

recapture amount is a percentage of useful life remaining at the time of sale or removal multiplied by the credit originally established on this form. Previously established credits have either offset tax or populated the carryover table Schedule V. Complete the Industrial

Machinery Credit Recapture Worksheet and then enter the applicable recapture amounts on Lines 12 and 13 below.

12.

Reduction to credit carryover table, Schedule V, from recapture worksheet, Part 2, Line 16

(12)

__________________________

13.

Recapture of credit from recapture worksheet, Part 2, Line 17 (enter here and on Schedule B, Line 6) ....

(13)

__________________________

*The percentage allowed on Part 1, Line 2 above is 1%, unless the taxpayer has met the requirements of Tenn. Code Ann. § 67-4-2009(3)(I) and has been approved by the Commissioner of Revenue for an enhanced rate based on the investment amount. The statutory minimum investment requirements and applicable rates for the enhanced credit are shown on the following chart:

Minimum Required Capital Investment

Rate of Credit

 

 

$100,000,000

3%

 

 

$250,000,000

5%

 

 

$500,000,000

7%

 

 

$1,000,000,000

10%

 

 

page 8

Taxable Year

Taxpayer Name

Account No./FEIN

Schedule U ‑ Schedule of Loss Carryover

 

Period

 

 

 

 

Year

Ended

Original Return or

Used in

 

Loss Carryover

 

(MM/YY)

as Amended

Prior Year(s)

Expired

Available

___________________________________________________________________________________________________________________1

 

 

 

 

___________________________________________________________________________________________________________________2

 

 

 

 

___________________________________________________________________________________________________________________3

 

 

 

 

___________________________________________________________________________________________________________________4

 

 

 

 

___________________________________________________________________________________________________________________5

 

 

 

 

___________________________________________________________________________________________________________________6

 

 

 

 

___________________________________________________________________________________________________________________7

 

 

 

 

___________________________________________________________________________________________________________________8

 

 

 

 

___________________________________________________________________________________________________________________9

 

 

 

 

___________________________________________________________________________________________________________________10

 

 

 

 

___________________________________________________________________________________________________________________11

 

 

 

 

___________________________________________________________________________________________________________________12

 

 

 

 

___________________________________________________________________________________________________________________13

 

 

 

 

___________________________________________________________________________________________________________________14

 

 

 

 

___________________________________________________________________________________________________________________15

 

 

 

 

Total Amount (Enter here and on Schedule J, Line 33)

 

Schedule V ‑ Schedule of Industrial Machinery and Research and Development Equipment Credit Carryover

 

Period

 

 

 

Industrial Machinery

Year

Ended

Original Return or

Used in

 

Credit Carryover

 

(MM/YY)

as Amended

Prior Year(s)

Expired or Recaptured

Available

1

 

 

 

 

 

________________________________________________________________________________________________________________________________

2

 

 

 

 

 

________________________________________________________________________________________________________________________________

3

 

 

 

 

 

________________________________________________________________________________________________________________________________

4

 

 

 

 

 

________________________________________________________________________________________________________________________________

5

 

 

 

 

 

________________________________________________________________________________________________________________________________

6

 

 

 

 

 

________________________________________________________________________________________________________________________________

7

 

 

 

 

 

________________________________________________________________________________________________________________________________

8

 

 

 

 

 

________________________________________________________________________________________________________________________________

9

 

 

 

 

 

________________________________________________________________________________________________________________________________

10

 

 

 

 

 

________________________________________________________________________________________________________________________________

11

 

 

 

 

 

________________________________________________________________________________________________________________________________

12

 

 

 

 

 

________________________________________________________________________________________________________________________________

13

 

 

 

 

 

________________________________________________________________________________________________________________________________

14

 

 

 

 

 

________________________________________________________________________________________________________________________________

15

 

 

 

 

 

________________________________________________________________________________________________________________________________

Total Amount (Enter here and on Schedule T, Line 4)

 

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2. Soon after filling out the previous part, go on to the next step and fill in all required particulars in all these blank fields - Schedule A Computation of, If overpayment reported on Line, Power of Attorney Check YES if, YES, Under penalties of perjury I, Taxpayers Signature, Date, Title, Tax Preparers Signature, Preparers PTIN, Date, Telephone, Preparers Address, Preparers Email Address, and City.

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