Tennessee Form Bus 416 PDF Details

For businesses operating within Tennessee, the Tennessee Department of Revenue's Municipal Business Tax Return, known as the BUS 416 form, serves as a critical document for annual tax filings. This comprehensive form, updated in September 2015, requires businesses to outline their gross sales, applicable deductions, and calculate the total business tax owed to the state. Designed to accommodate both wholesalers and retailers, the BUS 416 form features sections for declaring total sales excluding sales tax, itemizing deductions based on Schedule A, and computing taxable gross sales. Important elements also include specifics on the business tax rate applicable to the filing entity, opportunities to deduct a portion of personal property taxes, and guidelines for adjusting the total tax due with credit memo balances, penalties, and interests. In cases of amended returns or closed businesses, special boxes are available for indication. The form emphasizes the necessity for accurate, honest reporting, highlighted by a section for official signatures from a company’s principal officer or proprietor and the tax return preparer. Payment and submission details are neatly outlined, guiding taxpayers to make checks payable to the Tennessee Department of Revenue and directing them to the correct mailing address. Additionally, the form provides insight into various deductions that may be claimed, such as sales of services to out-of-state customers, returned merchandise, interstate commerce sales, and specific state and federal taxes that can impact the final tax obligation. This document ultimately stands as a pivotal resource for Tennessee businesses to ensure compliance with state tax regulations, fostering an environment of transparency and financial integrity.

QuestionAnswer
Form NameTennessee Form Bus 416
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesbus 416, tennessee business tax form 416, tennessee revenue form business, small business tax form 416

Form Preview Example

TENNESSEE DEPARTMENT OF REVENUE

MUNICIPAL BUSINESS TAX RETURN

RV-R0012901

INTERNET (09-15)

 

 

FilingPeriod

 

AccountNo.

 

FEIN/SSN/TIN

 

Business License No.

BUS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

416

 

 

 

 

 

 

 

 

 

 

 

Due Date

 

LocationAddress

Make your check

payable

to Tennessee

 

 

 

 

 

 

 

Department of Revenue and mail to:

 

 

 

 

 

 

 

Tennessee Department of Revenue

 

 

Classification

 

 

 

 

 

 

 

 

 

 

Andrew Jackson State Office Building

 

 

1A

 

 

 

 

 

 

 

 

 

 

500 Deaderick Street

 

 

 

 

 

 

 

 

 

 

 

 

Nashville, Tennessee 37242

 

 

 

 

 

 

 

Should you need assistance, please contact

Name: _________________________________________________________

 

 

theTaxpayer ServicesDivisionbycallingour

 

 

statewidenumbers: 1-800-342-1003or(615)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

253-0600.

 

 

 

 

 

 

 

Address: _________________________________________________________

 

 

 

 

 

 

 

 

 

 

 

 

(Address to which returns should be mailed)

 

 

 

If this is an AMENDED RETURN,

}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

please check the box at right

 

 

 

 

City: ________________________________ State: _____

Zip: __________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If this is a return for a CLOSED

}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

business, please check the

 

 

 

 

 

 

 

 

 

 

 

box at right.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Character of Seller (Select one only):

Wholesaler Retailer

Business tax jurisdiction for which return is being filed:

(Name of city)

Note: A taxpayer located within a city may be required to file two business tax returns. Please see the instructions for more information.

 

 

 

 

 

 

 

ROUND TO NEAREST DOLLAR

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

Total gross sales (Excluding sales tax)

(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

Enter deductions from Schedule A, Line 18

(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.00

 

 

 

(3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3.

Taxable gross sales (Subtract Line 2 from Line 1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4.

Business tax (Retailers multiply Line 3 by _________; Wholesalers multiply Line 3 by _________.)

 

 

 

 

(If rate is not preprinted, refer to chart on reverse)

(4)

5.

Deduct amount of personal property taxes (cannot exceed 50% of Line 4)

(5)

6.

Total tax due (Subtract Line 5 from Line 4. Enter result or $22, whichever is greater)

 

(6)

 

7.

Enter credit

memo balance

 

 

 

 

(7)

8.

Penalty (See

instructions)

9.

Interest (

% per annum on taxes unpaid by the due date; see instructions)

(9)

10.

Total amount due (Add Lines 6, 8, and 9; subtract Line 7)

 

 

 

 

(Make checks payable to the Tennessee Department of Revenue)

(10)

.00

%.00

%.00

%.00

%.00

%.00

%.00

FOR OFFICE USE ONLY

I declare this is a true, complete, and accurate return to the best of my knowledge.

SIGN

HERE

 

President or other Principal Officer, Partner or Proprietor

Date

SIGN

 

HERE

 

 

Tax Return Preparer and Title

Date

 

41616600000000000000000000000000000000000000000000000000000000000000

INTERNET (09-15)

Schedule A. Deductions from Gross Sales

 

1. Sales of services received by persons located in other states

(1)

2. Returned merchandise when the sales price is refunded to the customer

(2)

.00

.00

3.Sales in interstate commerce where the purchaser takes possession outside Tennessee for use or consumption outside Tennessee.......................................................................................................

4.Cash discounts allowed and taken on sales.......................................................................................

5.Repossessions - The portion of the unpaid principal balance in excess of $500 due on tangible per- sonal property repossessed from customers.......................................................................................

6.The amount allowed as trade-in value for any articles sold...................................................................

7.Bad debts written off during the reporting period and eligible to be deducted for federal income tax purposes.........................................................................................................................................

8.Amounts paid by a contractor to a subcontractor holding either a business license or contractor's license for performing activities described in Tenn. Code Ann. Section 67-4-708(4)(A). Must

complete Schedule B and file with the return......................................................................................

Federal and Tennessee privilege and excise taxes:

(3) .00

(4) .00

(5) .00

(6) .00

(7) .00

(8) .00

(Note: All deductions must have adequate records maintained to substantiate deductions claimed or they will be disallowed.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

...............................................................................................9. Federal and Tennessee gasoline tax

(9)

 

 

 

 

 

 

 

 

 

 

 

 

 

.00

 

10.

Federal and Tennessee motor fuel tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(10)

 

 

 

 

 

 

 

 

 

 

 

 

 

.00

 

11.

Federal and Tennessee tobacco tax on cigarettes

(11)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.00

 

12. Federal and Tennessee tobacco tax on all other tobacco products

(12)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13.Federal and Tennessee beer tax....................................................................................................

14.Tennessee special tax on petroleum products........................................................

15.Tennessee liquified gas tax for certain motor vehicles..............................................

16.Tennessee beer wholesale tax..........................................................................................................

17.Other deductions not taken elsewhere on the return.........................................................................

(Specify)

18. Total Deductions. Add Lines 1 through 17. Enter here and in Page 1, Line 2

(18)

(13) .00

(14) .00

(15) .00

(16) .00

(17) .00

.00

CLASSIFICATION

RETAILER RATES

WHOLESALER RATES

TAX PERIOD

DUE DATE

Class 1A

0.001

0.00025

 

 

Class 1B & 1C

0.001

0.000375

 

Not later than the

Class 1D

0.0005

Notapplicable

 

15th day of the 4th

Class 1E

Notapplicable

0.0003125

Fiscal Year

month following the

Class 2

0.0015

0.000375

 

end of the tax

Class 3

0.001875

0.000375

 

period.

Class 4

0.001

Not applicable

 

 

Class 5

0.003

Not applicable

 

 

 

 

 

 

 

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