Exemptions and Credits

  • Entities Exempt from Franchise & Excise Tax:  Seventeen different types of entities are exempt from the franchise and excise taxes.  You can file for an exemption using the Tennessee Taxpayer Access Point (TNTAP), without creating a logon.  Read more about exempt entities at the link on the left. 
  • Family Owned Non-corporate Entity (FONCE):  Entities that meet specific criteria can file for the FONCE exemption.  More information can be found at the link on the left.  
  • Job Tax Credit:  A standard job tax credit is available to taxpayers that invest in Tennessee and create jobs as a result of the investment. Read more about this credit in the link on the left. 
  • Qualified Production Tax Credit:  A franchise and excise tax credit is available for tax years beginning on or after July 1, 2021 for qualified payroll expenses incurred by taxpayers engaging in qualified productions in Tennessee.  More information is available at the link on the left.