Are you looking for information on Tennessee Form Bus 416, the tax form used to report corporate liabilities? If so, you've come to the right place! Completing Form 416 correctly is essential if your business wants to remain in good standing with the state of Tennessee, and it's important to understand all aspects of filling out this form. In this post, we'll cover everything from general requirements and filing tips to detailed instructions on completing each line of the form. Whether you're just starting out or have been managing taxes for years, you'll find helpful advice here that will make submitting your taxes easier than ever.
| Question | Answer |
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| Form Name | Tennessee Form Bus 416 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | bus 416, tennessee business tax form 416, tennessee revenue form business, small business tax form 416 |
TENNESSEE DEPARTMENT OF REVENUE
MUNICIPAL BUSINESS TAX RETURN
INTERNET |
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AccountNo. |
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FEIN/SSN/TIN |
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Business License No. |
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BUS |
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416 |
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Due Date |
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LocationAddress |
Make your check |
payable |
to Tennessee |
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Department of Revenue and mail to: |
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Tennessee Department of Revenue |
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Classification |
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Andrew Jackson State Office Building |
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1A |
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500 Deaderick Street |
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Nashville, Tennessee 37242 |
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Should you need assistance, please contact |
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Name: _________________________________________________________ |
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theTaxpayer ServicesDivisionbycallingour |
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statewidenumbers: |
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Address: _________________________________________________________ |
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(Address to which returns should be mailed) |
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If this is an AMENDED RETURN, |
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please check the box at right |
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City: ________________________________ State: _____ |
Zip: __________ |
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If this is a return for a CLOSED |
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business, please check the |
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box at right. |
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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.
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ROUND TO NEAREST DOLLAR |
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1. |
Total gross sales (Excluding sales tax) |
(1) |
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2. |
Enter deductions from Schedule A, Line 18 |
(2) |
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(3) |
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3. |
Taxable gross sales (Subtract Line 2 from Line 1) |
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4. |
Business tax (Retailers multiply Line 3 by _________; Wholesalers multiply Line 3 by _________.) |
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(If rate is not preprinted, refer to chart on reverse) |
(4) |
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5. |
Deduct amount of personal property taxes (cannot exceed 50% of Line 4) |
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6. |
Total tax due (Subtract Line 5 from Line 4. Enter result or $22, whichever is greater) |
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7. |
Enter credit |
memo balance |
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(7) |
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8. |
Penalty (See |
instructions) |
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9. |
Interest ( |
% per annum on taxes unpaid by the due date; see instructions) |
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10. |
Total amount due (Add Lines 6, 8, and 9; subtract Line 7) |
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(Make checks payable to the Tennessee Department of Revenue) |
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.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
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President or other Principal Officer, Partner or Proprietor |
Date |
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SIGN |
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HERE |
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Tax Return Preparer and Title |
Date |
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41616600000000000000000000000000000000000000000000000000000000000000
INTERNET
Schedule A. Deductions from Gross Sales |
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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
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
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.)
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...............................................................................................9. Federal and Tennessee gasoline tax |
(9) |
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.00 |
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10. |
Federal and Tennessee motor fuel tax |
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(10) |
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.00 |
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11. |
Federal and Tennessee tobacco tax on cigarettes |
(11) |
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12. Federal and Tennessee tobacco tax on all other tobacco products |
(12) |
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.00 |
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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 |
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Class 1B & 1C |
0.001 |
0.000375 |
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Not later than the |
Class 1D |
0.0005 |
Notapplicable |
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15th day of the 4th |
Class 1E |
Notapplicable |
0.0003125 |
Fiscal Year |
month following the |
Class 2 |
0.0015 |
0.000375 |
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end of the tax |
Class 3 |
0.001875 |
0.000375 |
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period. |
Class 4 |
0.001 |
Not applicable |
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Class 5 |
0.003 |
Not applicable |
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