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Taxpayers will have until the end of June to pay Professional Privilege tax with no penalty or interest. Click here to file.

Franchise & Excise Tax

Overview

If you are a corporation, limited partnership, limited liability company, or business trust chartered/organized in Tennessee or doing business in this state, then you must register for and pay franchise and excise taxes. The franchise tax is based on the greater of net worth or the book value of real or tangible personal property owned or used in Tennessee. The excise tax is based on net earnings or income for the tax year.