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Tennessee Free Printable FAE170_2017 for 2018 Tennessee Franchise and Excise Tax Return Kit

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Franchise and Excise Tax Return Kit
FAE170_2017

RV-R0011001 TENNESSEE DEPARTMENT OF REVENUE Please do not staple FRANCHISE, EXCISE TAX RETURN FAE 170 Account No. Taxable Year Beginning: FEIN Due Date Ending: CHECK APPROPRIATE BLOCK: Tennessee Domestic Corporation a. b. Foreign Corporation c. S Corporation LLC d. e. Single Member LLC/individual f. Single Member LLC/corporation Single Member LLC/partnership g. h. Series LLC/Series i. j. k. l. m. n. o. p. CHECK ALL THAT APPLY: PLLC LP LLP RLLP PRLLP Business Trust Not-For-Profit Other _____________ TAXPAYER NAME AND MAILING ADDRESS AMENDED RETURN } FINAL RETURN for termination or withdrawal } Application of Public Law 86-272 to Excise Tax } Payment for this return was sent via EFT } Taxpayer has made an election to calculate net worth per the provisions of Tenn. Code Ann. Section 67-4-2103(g)-(i) } Enter the principal business activity code (NAICS) listed in federal IRC instructions that best describes the principal business activity in Tennessee. NAME ___________________________________________________________________________________ ADDRESS _______________________________________________________________________________ CITY _____________________________________________________________________________________ STATE ___________________________________________________ ZIP ________________________________ INTERNET (4-17) Date Tennessee If you use a paid Operations Began preparer and do not want forms mailed to you next year, check box at right. DOLLARS CENTS SCHEDULE A - COMPUTATION OF FRANCHISE TAX 1. Total net worth from Schedule F1, Line 5 or Schedule F2, Line 3 ........................................................ (1) 2. Total real & tangible personal property from Schedule G, Line 15 ..................................................... (2) 3. Franchise tax (25¢ per $100.00 or major fraction thereof on the greater of Lines 1 or 2; minimum $100.00) (3) _________________________________ _________________________________ _________________________________ SCHEDULE B - COMPUTATION OF EXCISE TAX Income subject to excise tax from Schedule J, Line 29 ......................................................................... Excise tax (6.5% of Line 4) ........................................................................................................................ Add: Recapture of tax credit from Schedule T, Line18 and additional excise tax on certified distribution sales .. Net excise tax due (Line 5 plus Line 6) .................................................................................................. _________________________________ _________________________________ _________________________________ _________________________________ 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. (4) (5) (6) (7) SCHEDULE C - COMPUTATION OF TOTAL TAX DUE OR OVERPAYMENT Total Franchise and Excise taxes - Add lines 3 and 7 ............................................ (8) Deduct: Total credit from Schedule D, Line 10 (cannot exceed Line 8) ............. (9) Subtotal: Line 8 less Line 9 (if Line 9 exceeds Line 8, enter 0 here) .................... (10) Deduct: Total payments from Schedule E, Line 7 ................................................. (11) Penalty (5% for each 30-day period of delinquency not to exceed 25%; minimum penalty is $15)(12) Interest (on taxes not paid by the due date at the current statutory rate) ....................................... (13) Penalty on estimated franchise, excise tax payments ........................................................................ (14) Interest on estimated franchise, excise tax payments ....................................................................... (15) Total amount due (overpayment) - Add lines 10, 12, 13, 14, and 15, less Line 11 ..................... (16) If overpayment reported on Line 16, complete A and/or B: A. Credit to next year’s tax $ ____________________________ B. Refund $ _________________________ POWER OF ATTORNEY - Check YES if this taxpayer's signature certifies that this tax preparer has the authority to execute this form on behalf of the taxpayer and is authorized to receive and inspect confidential tax information and to perform any and all acts relating to respective tax matters. YES FOR OFFICE USE ONLY _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ Under penalties of perjury, I declare that I have examined this report, and to the best of my knowledge and belief, it is true, correct, and complete. _______________________________________________________________ Taxpayer's Signature __________________ Date _______________________________ Title _______________________________________________ _____________ Tax Preparer's Signature Preparer's PTIN __________________ Date _______________________________ Telephone _______________________________________________________ Preparer's Address __________________________ City ________ State ____________________ ZIP Remit amount on Line 16, payable to: TENNESSEE DEPARTMENT OF REVENUE Andrew Jackson State Office Building 500 Deaderick Street, Nashville, TN 37242 INTERNET (4-17) page 2 TAXABLE YEAR ACCOUNT NO./FEIN TAXPAYER NAME Schedule D -- SCHEDULE OF CREDITS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Gross Premiums tax credit (cannot exceed Schedule C, Line 8) ................................................................ (1) Tennessee Income Tax (cannot exceed Schedule B, Line 5) ...................................................................... (2) Green Energy Tax Credit from business plans filed prior to July 1, 2015 .................................................. (3) Carbon Charge Credit from business plans filed prior to July 1, 2015 ....................................................... (4) Brownfield Property Credit ............................................................................................................................. (5) Qualified Headquarters Relocation Expense Credit from business plans filed prior to July 1, 2015 ...... (6) Industrial Machinery Credit from Schedule T, Line 11 ................................................................................. (7) Job Tax Credit from Schedule X, Line 46 ....................................................................................................... (8) Additional Annual Job Tax Credit from Schedule X, Line 38 ........................................................................ (9) Total Credit - Add lines 1 through 9 (Enter here and on Schedule C, Line 9) .......................................... (10) _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ Schedule E -- SCHEDULE OF PAYMENTS 1. 2. 3. 4. 5. 6. 7. Overpayment from previous year if available .............................................................................................. (1) First quarterly estimated payment ................................................................................................................. (2) Second quarterly estimated payment ........................................................................................................... (3) Third quarterly estimated payment ............................................................................................................... (4) Fourth quarterly estimated payment ............................................................................................................. (5) Extension payment ........................................................................................................................................... (6) Total payments - Add lines 1 through 6 (Enter here and on Schedule C, Line 11) ................................... (7) _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ _____________________________ COMPUTATION OF FRANCHISE TAX Schedule F1 -- NON-CONSOLIDATED NET WORTH 1. 2. 3. 4. 5. Net Worth (total assets less total liabilities) ................................................................................................... (1) Indebtedness to or guaranteed by parent or affiliated corporation (cannot be a deduction) ................. (2) Total lines 1 and 2 ............................................................................................................................................. (3) Ratio (Schedules N, O, P, or R if applicable or 100%) .................................................................................... (4) Total - Line 3 multiplied by Line 4 (Enter here and on Schedule A, Line 1) ................................................. (5) ____________________________ ____________________________ ____________________________ % ____________________________ ____________________________ Schedule F2 -- CONSOLIDATED NET WORTH 1. Consolidated Net Worth (total assets less total liabilities) ........................................................................... (1) 2. Ratio (Schedule 170NC or 170SF) .................................................................................................................... (2) 3. Total - Line 1 multiplied by Line 2 (Enter here and on Schedule A, Line 1) ................................................. (3) ____________________________ % ____________________________ ____________________________ NOTE: Schedule F2 is to be completed only if the consolidated net worth election has been made. Schedule G - DETERMINATION OF REAL AND TANGIBLE PROPERTY BOOK VALUE OF PROPERTY OWNED - Cost less accumulated depreciation Land ..................................................................................................................................................................... (1) Buildings, leaseholds, and improvements ...................................................................................................... (2) Machinery, equipment, furniture, and fixtures ............................................................................................... (3) Automobiles and trucks ..................................................................................................................................... (4) Prepaid supplies and other tangible personal property ................................................................................ (5) Ownership share of real and tangible property of a partnership that does not file a return .................... (6) Inventories and work in progress ..................................................................................................................... (7) a. Deduct value of exempt inventory in excess of $30 million (Tenn. Code Ann. Section 67-4-2108(a)(6)(B)) (7a) 8. a. Deduct value of certified pollution control equipment (include copy of certificate (Tenn. Code Ann. Section 67-5-604)) and b. Equipment used to produce electricity at a Certified Green Energy Production Facility ..................... (8) 9. Deduct exempt required capital investment (Tenn. Code Ann. Section 67-4-2108(a)(6)(G)) ................... (9) 10. SUBTOTAL - Add lines 1 through 7, less Line 7a through Line 9 ................................................................ (10) 1. 2. 3. 4. 5. 6. 7. 11. 12. 13. 14. 15. RENTAL VALUE OF PROPERTY USED BUT NOT OWNED (A) (B) In Tennessee Net Annual Rental Paid for: Real property ..................................................................................... _____________________ x8 (11) Machinery & equipment used in manufacturing & processing ... _____________________ x3 (12) Furniture, office machinery, and equipment .................................. _____________________ x2 (13) Delivery or mobile equipment ......................................................... _____________________ x1 (14) TENNESSEE TOTAL - Add lines 10-14 (Enter total here and on Schedule A, Line 2) .............................. (15) In Tennessee ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ( ) ____________________________ ( ) ____________________________ ( ) ____________________________ ____________________________ (C) ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ INTERNET (4-17) page 3 TAXABLE YEAR TAXPAYER NAME ACCOUNT NO./FEIN Schedule H -- GROSS RECEIPTS 1. Gross receipts or sales per federal income tax return ................................................................................... (1) COMPUTATION OF EXCISE TAX Schedule J-1 -- COMPUTATION OF NET EARNINGS FOR ENTITIES TREATED AS PARTNERSHIPS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Ordinary Income or Loss (Federal Form 1065, Line 22) ............................................................................... (1) Additions: Income items specifically allocated to partners, including guaranteed payments to partners (Federal Form 1065, Schedule K) .................................................................................................................... (2) Any net loss or expense distributed to a publicly traded REIT ..................................................................... (3) Total additions - Add lines 1, 2, and 3 ............................................................................................................. (4) Deductions: Expense items specifically allocated to partners not deducted elsewhere (Federal Form 1065,Schedule K) (5) 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) Amount of contribution to qualified pension or benefit plans of any partner or member, including all IRC 401plans (include on Schedule K, Line 3) ................................................................................................ (7) Any net gain or income distributed to a publicly traded REIT ....................................................................... (8) Any loss on the sale of an asset sold within 12 months after the date of distribution .............................. (9) Total deductions - Add lines 5 through 9 ...................................................................................................... (10) Total - Line 4 less Line 10 (Enter here and on Schedule J, Line 1) .............................................................. (11) ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ Schedule J-2 -- COMPUTATION OF NET EARNINGS FOR A SINGLE MEMBER LLC FILING AS AN INDIVIDUAL Additions: Business Income from Form 1040, Schedule C ............................................................................................. (1) Business Income from Form 1040, Schedule D ............................................................................................. (2) Business Income from Form 1040, Schedule E ............................................................................................. (3) Business Income from Form 1040, Schedule F .............................................................................................. (4) Business Income from Form 4797 .................................................................................................................. (5) Other: Form __________ , Schedule ____________ ................................................................................................. (6) 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 - Line 7 less Line 8 (Enter here and on Schedule J, Line 1) .................................................................. (9) 1. 2. 3. 4. 5. 6. 7. ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ Schedule J-3 -- COMPUTATION OF NET EARNINGS FOR ENTITIES TREATED AS SUBCHAPTER S CORPORATIONS 1. 2. 3. 4. 5. 6. 7. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Ordinary Income or Loss (Federal Form 1120S, Line 21) ............................................................................. (1) ____________________________ Additions: Income items to extent includable in federal income were it not for “S” status election (Federal Form 1120S - Schedule K) ................................................................................................................. (2) ____________________________ Total additions - Add lines 1 and 2 .................................................................................................................. (3) ____________________________ Deductions: Expense items to extent includable in federal expenses were it not for “S” status election (Federal Form 1120S - Schedule K) ................................................................................................................. (4) ____________________________ Any loss on the sale of an asset sold within 12 months after the date of distribution .............................. (5) ____________________________ Total deductions - Add lines 4 and 5 ............................................................................................................... (6) ____________________________ Total - Line 3 less Line 6 (Enter here and on Schedule J, Line 1) .................................................................. (7) ____________________________ Schedule J-4 -- COMPUTATION OF NET EARNINGS FOR ENTITIES TREATED AS CORPORATIONS AND "OTHER" ENTITIES Taxable income or loss before net operating loss deduction and special deductions (Federal Form 1120, Line 28) ........................................................................................................................... (1) Unrelated business taxable income (Federal Form 990-T, Line 30) ............................................................ (2) Other: Form __________ , Schedule ____________ ................................................................................................. (3) Any deduction for domestic production activities under the provisions of IRC Section 199 ..................... (4) Contribution carryover from prior period(s) .................................................................................................. (5) Capital gains offset by capital loss carryover or carryback ......................................................................... (6) Total Additions - Add lines 1 through 6 ........................................................................................................... (7) Deductions: Contributions in excess of amount allowed by federal government ........................................................... (8) Portion of current year’s capital loss not included in federal taxable income ........................................... (9) Total deductions - Add lines 8 and 9 ............................................................................................................. (10) Total - Line 7 less Line 10 (Enter here and on Schedule J, Line 1) .............................................................. (11) ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ INTERNET (4-17) page 4 TAXABLE YEAR TAXPAYER NAME ACCOUNT NO./FEIN Schedule J - COMPUTATION OF NET EARNINGS SUBJECT TO EXCISE TAX 1. Federal income or loss (Enter amount from Schedule J-1, J-2, J-3, or J-4) ......................................................... (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. A taxpayer paying excess rent enters a positive amount on this line. A taxpayer receiving excess rent, to the extent added back to net earnings by its affiliate, enters a negative amount on this line. .............................................................................................................................. (10) 11. Any net loss or expense received from a “pass-through” entity subject to the excise tax .......................... (11) 12. Total additions - Add lines 2 through 11 ............................................................................................................ (12) DEDUCTIONS: 13. Any depreciation under the provisions of IRC Section 168 permitted for excise tax purposes due to Tennessee permanently decoupling from federal bonus depreciation ........................................................ (13) 14. Any excess gain (or loss) from the basis adjustment resulting from Tennessee permanently decoupling from federal bonus depreciation ....................................................................................................................... (14) 15. Dividends received from corporations, at least 80% owned .......................................................................... (15) 16. Donations to Qualified Public School Support Groups and nonprofit organizations .................................... (16) 17. Any expense other than income taxes, not deducted in determining federal taxable income for which a credit against the federal income tax was allowed .......................................................................................... (17) 18. Adjustments related to the "safe harbor" lease election (see instructions) ................................................. (18) 19. Nonbusiness earnings - Schedule M, Line 8 ..................................................................................................... (19) 20. Intangible expenses paid, accrued, or incurred to an affiliated entity or entities. Form IE - Intangible Expense Disclosure form must be included with this return ......................................................................... (20) 21. 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. Section 67-4-2006(b)(2)(N) ............. (21) 22. Any net gain or income received from a “pass-through” entity subject to the excise tax ............................ (22) 23. Total deductions - Add lines 13 through 22 ....................................................................................................... (23) COMPUTATION OF TAXABLE INCOME 24. Total business income (loss) - Add lines 1 and 12, less Line 23 (if loss, enter on Schedule K, Line 1) ....... (24) 25. Apportionment Ratio (Schedules N, O, P, or R if applicable or 100%) ............................................................ (25) 26. Apportioned business income (loss) (Line 24 multiplied by Line 25) ............................................................. (26) 27. Add: Nonbusiness earnings directly allocated to Tennessee (from Schedule M, Line 9) ............................ (27) 28. Deduct: Loss carryover from prior years (from Schedule U) .......................................................................... (28) 29. Subject to excise tax (Line 26 plus Line 27, less Line 28) (Enter here and on Schedule B, Line 4) ............. (29) __________________________ __________________________ _______________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ % __________________________ __________________________ __________________________ __________________________ __________________________ Schedule K - DETERMINATION OF LOSS CARRYOVER AVAILABLE -See Rule 1320-6-1-.21 of Departmental Rules and Regulations 1. Net loss from Schedule J, Line 24 .......................................................................................................................... (1) ADD: 2. Amounts reported on Schedule J, lines 15 and 19 ............................................................................................... (2) 3. Amounts reported on Schedule J-1, lines 6 and 7, and Schedule J-2, Line 8 ..................................................... (3) 4. Reduced loss - Add lines 1 through 3 (if net amount is positive, enter "0") ...................................................... (4) 5. Excise Tax ratio (Schedules N, O, P, or R if applicable or 100%) ........................................................................ (5) 6. Current year loss carryover available (Line 4 multiplied by Line 5) .................................................................. (6) __________________________ __________________________ __________________________ __________________________ % __________________________ __________________________ INTERNET (4-17) TENNESSEE DEPARTMENT OF REVENUE SCHEDULE M - NONBUSINESS EARNINGS TAXABLE YEAR ACCOUNT NO./FEIN TAXPAYER NAME Allocation and apportionment schedules may be used only by taxpayers doing business outside the state of Tennessee within the meaning of Tenn. Code Ann. Sections 67-4-2010 and 67-4-2110. The burden is upon the taxpayer to show that the taxpayer has the right to apportion. Note - 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. Definitions: “Business Earnings” means ( 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. In essence, 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” means all earnings other than business earnings. Description (If further description is necessary see below) Gross Amounts *Less Related Expenses Net Amounts Net Amounts Allocated Directly to Tenn. 1. ____________________________________________________________________________________________________________________________ 2. ____________________________________________________________________________________________________________________________ 3. ____________________________________________________________________________________________________________________________ 4. ____________________________________________________________________________________________________________________________ 5. ____________________________________________________________________________________________________________________________ 6. ____________________________________________________________________________________________________________________________ 7. ____________________________________________________________________________________________________________________________ Total nonbusiness earnings (Enter here and on Schedule J, Line 19) XXXXX 8. ____________________________________________________________________________________________________________________________ Nonbusiness earnings allocated directly (Enter here and on Schedule J, Line 27) XXXXX 9. ____________________________________________________________________________________________________________________________ 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. Such items 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 percent of such earnings and that expenses related to other nonbusiness earnings will be an amount equal to 5 percent of such earnings. (See regulation 1320-6-1.23(3)) INTERNET (4-17) TAXABLE YEAR ACCOUNT NO./FEIN TAXPAYER NAME APPORTIONMENT SCHEDULES FOR TAXPAYERS DOING BUSINESS OUTSIDE THE STATE OF TENNESSEE Franchise and excise tax ratios are obtained by using the arithmetical average of the following ratios. If a factor's denominator (everywhere value) is zero, that factor is to be eliminated entirely and the average is to be computed from the remaining factor or factors. SCHEDULE N - APPORTIONMENT - STANDARD (manufacturers, retailers, wholesalers, etc.) Property In Tennessee NOTE: USE ORIGINAL COST OF ASSETS a. Beginning of Taxable year Total Everywhere b. End of Taxable year a. Beginning of Taxable year b. End of Taxable year l. 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 (Lines l through 6) .................................. a. b. a. b. ____________________________________________________________________________________________________________________________________________ 8. Less exempt inventory (Tenn. Code Ann. 67-4-2111(b)(1)) ....... _______________________________________________________________________________________________________________________________ 9. Franchise tax total (Line 7 minus Line 8) ........................ a. b. a. b. ____________________________________________________________________________________________________________________________________________ 10. Excise tax average value (add Line 7(a) & (b), divide by 2) ........... ____________________________________________________________________________________________________________________________________________ ( ) ( ) ( ) ( ) 11. Franchise tax average value (add Line 9(a) & (b), divide by 2) ..... ____________________________________________________________________________________________________________________________________________ 12. Add: Rented property (rent paid X 8) ............................ ____________________________________________________________________________________________________________________________________________ NOTE: Triple Weighted Sales Factor a. In Tennessee b. Total Everywhere c. Franchise Ratio d. Excise Ratio % % % % ____________________________________________________________________________________________________________________________________________ % % ____________________________________________________________________________________________________________________________________________ % % ____________________________________________________________________________________________________________________________________________ % % ____________________________________________________________________________________________________________________________________________ % % ____________________________________________________________________________________________________________________________________________ 13. Excise Tax property factor (Line 10 plus Line 12) .......... ____________________________________________________________________________________________________________________________________________ 14. Franchise Tax property factor (Line 11 plus Line 12) ... ____________________________________________________________________________________________________________________________________________ 15. Payroll factor .................................................................... 16. Sales factor - (business gross receipts) ........................... Sales factor - (business gross receipts) ........................... Sales factor - (business gross receipts) ........................... 17. Total Ratios ....................................................................... 18. Apportionment Ratio - Divide Line 17 by five, or by the number of factors with everywhere values greater than zero % (Enter Franchise Ratio on Sch. F1, Line 4. Enter Excise Ratio on Sch. J, Line 25) ........................................................................... % SCHEDULE O - APPORTIONMENT - COMMON CARRIERS (railroads, motor carriers, pipelines and barges) In Tennessee Total Everywhere Ratio % % XXXXX XXXXX % Total Ratios ................................................................................................................................. _______________________________________________________________________________________________ Apportionment Ratio - Divide Line 3 by two, or by the number of factors with everywhere values greater than zero (Enter Franchise Ratio on Sch. F1, Line 4, % 1. Total franchise mileage (odometer miles) .................................................................................... _______________________________________________________________________________________________ 2. Tennessee intrastate receipts - Interstate gross receipts everywhere ......................................... _______________________________________________________________________________________________ 3. 4. Enter Excise Ratio on Sch. J, Line 25) ........................................................................................................................................................................................... SCHEDULE P - APPORTIONMENT - AIR CARRIERS In Tennessee 1. Originating revenue ................................................................................................................... Total Everywhere Ratio % _______________________________________________________________________________________________ 2. Airmiles flown (Include in Tennessee column only airmiles flown on flights either originating from or ending in Tennessee or both) ...................................................................... % _______________________________________________________________________________________________ 3. Total Ratios ................................................................................................................................. _________________________________________________________________________________ XXXXX XXXXX % 4. Apportionment Ratio - Divide Line 3 by two, or by the number of factors with everywhere values greater than zero (Enter Franchise Ratio on Sch. F1, Line 4, % Enter Excise Ratio on Sch. J, Line 25) ......................................................................................................................................................................................... SCHEDULE R - APPORTIONMENT - AIR EXPRESS CARRIERS In Tennessee 1. Originating revenue .................................................................................................................... Total Everywhere Ratio % _______________________________________________________________________________________________ 2. Airmiles flown and groundmiles traveled (Include in Tennessee column only airmiles flown on flights either originating from or ending in Tennessee or both. Include only groundmiles traveled with respect to actual common carriage of persons or property for hire) ........................................................................................................ 3. Total Ratios ................................................................................................................................. % _______________________________________________________________________________________________ XXXXX XXXXX % _______________________________________________________________________________________________ 4. Apportionment Ratio - Divide Line 3 by two, or by the number of factors with everywhere values greater than zero (Enter Franchise Ratio on Sch. F1, Line 4, Enter Excise Ratio on Sch. J, Line 25) ......................................................................................................................................................................................... % INTERNET (4-17) TENNESSEE DEPARTMENT OF REVENUE INDUSTRIAL MACHINERY AND RESEARCH AND DEVELOPMENT EQUIPMENT TAX CREDIT TAXABLE YEAR ACCOUNT NO./FEIN TAXPAYER NAME 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. Section 67-4-2009(3). SCHEDULE T - INDUSTRIAL MACHINERY AND RESEARCH AND DEVELOPMENT EQUIPMENT PART 1 TAX CREDIT COMPUTATION 1. Purchase price of industrial machinery and research and development equipment .................................... (1) _________________________ 2. Percentage allowed (generally 1%, see note below) ......................................................................................... (2) % _________________________ 3. Original credit (Line 1 multiplied 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 (from Schedule A, Line 3 plus Schedule B, Line 5 ) ... (6) _________________________ 7. Limitation on credit (50% of line 6) ....................................................................................................................... (7) _________________________ 8. Franchise and Excise Tax liability before any credits (from Schedule A, Line 3 plus Schedule B, Line 5 ) ... (8) _________________________ 9. Credits from Schedule D, Lines 1 through 6 and Schedule D, Line 9 ............................................................... (9) _________________________ 10. Tax before industrial machinery credit (Line 8 less Line 9) ............................................................................ (10) _________________________ 11. Amount available in current year (Least of Lines 5, 7, or 10; Enter here and on Schedule D, Line 7) ...... (11) _________________________ PART 2 RECAPTURE OF TAX CREDIT In the event that any industrial machinery or research and development equipment is sold or removed from the state and credit has been taken against franchise and/or excise taxes, the following formula is to be used to recapture the tax credit taken for each item of machinery. If the credit has not been taken due to the 50% annual limitation, carryover should be adjusted accordingly. Credit taken on purchase of industrial machinery or research and development equipment times percentage of useful life remaining at time of sale or removal equals the amount of credit to be recaptured. 12. Original purchase price of industrial machinery and research and development equipment .................. (12) _________________________ 13. Original credit established from the purchase of this machinery ................................................................. (13) _________________________ 14. Amount of Line 13 that was actually used to offset franchise and excise taxes ......................................... (14) _________________________ 15. Remaining useful life at time of sale or removal (in months) ........................................................................ (15) _________________________ 16. Total useful life (in months) ............................................................................................................................... (16) _________________________ 17. Percentage of useful life remaining at time of sale or removal - Divide Line 15 by Line 16 ...................... (17) % _________________________ 18. Total amount of recapture - Multiply Line 14 by Line 17 (Enter here and on Schedule B, Line 6) ............. (18) _________________________ Note: The percentage allowed on Part 1, Line 2 above is 1%, unless the taxpayer has met the requirements of Tenn. Code Ann. Section 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% TAXABLE YEAR INTERNET (4-17) ACCOUNT NO./FEIN TAXPAYER NAME SCHEDULE U and V - LOSS CARRYOVER/INDUSTRIAL MACHINERY AND RESEARCH AND DEVELOPMENT EQUIPMENT CREDIT CARRYOVER IMPORTANT INFORMATION APPLICABLE TO LOSS CARRYOVER 1. 2. Net operating losses may be carried forward for up to fifteen (15) years until fully utilized. Tenn. Code Ann. Section 67-4-2006(c)(8) requires that loss carryover be reduced by the Tennessee portion of discharge of indebtedness income excluded from federal gross income under I.R.C. section 108(a) where the bankruptcy discharge occurs on or after October 1, 2013. See Excise Tax Report of Bankruptcy Discharge form and the above referenced code section for more information. SCHEDULE U - SCHEDULE OF LOSS CARRYOVER Year Period Ended (MM/YY) Original Return or As Amended Used In Prior Year(s) Expired Loss Carryover 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 28) ......................................................... SCHEDULE V - SCHEDULE OF INDUSTRIAL MACHINERY AND RESEARCH AND DEVELOPMENT EQUIPMENT CREDIT CARRYOVER IMPORTANT INFORMATION APPLICABLE TO INDUSTRIAL MACHINERY AND RESEARCH AND DEVELOPMENT CREDIT CARRYOVER Unused credit may be carried forward for up to fifteen (15) years. Reference: Tenn. Code Ann. Section 67-4-2009(3)(c). Year Period Ended (MM/YY) Original Return or As Amended Used In Prior Year(s) Expired Industrial Machinery Credit Carryover 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) ..........................................................
Extracted from PDF file 2017-tennessee-form-fae-170.pdf, last modified May 2017

More about the Tennessee Form FAE-170 Corporate Income Tax TY 2017

We last updated the Franchise and Excise Tax Return Kit in January 2018, so this is the latest version of Form FAE-170, fully updated for tax year 2017. You can download or print current or past-year PDFs of Form FAE-170 directly from TaxFormFinder. You can print other Tennessee tax forms here.


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Other Tennessee Corporate Income Tax Forms:

TaxFormFinder has an additional 65 Tennessee income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form FAE-170 Franchise and Excise Tax Return Kit
Form BUS415-2 County Business Tax Return - Classification 2
Form FAE-183 Franchise and Excise Tax Annual Exemption Renewal
Form FAE-173 Application for Extension of Time to File
Form BUS416-4 Municipal Business Tax Return - Classification 4

Download all TN tax forms View all 66 Tennessee Income Tax Forms


Form Sources:

Tennessee usually releases forms for the current tax year between January and April. We last updated Tennessee Form FAE-170 from the Department of Revenue in January 2018.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Tennessee Form FAE-170

We have a total of four past-year versions of Form FAE-170 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form FAE-170

FAE170 2 2015 07-16-2015

2015 Form FAE-170

FAE170 - Franchise Excise Tax Return 2013

2012 Franchise Excise Tax Return 2012 Form FAE-170

2012 Franchise Excise Tax Return


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Source: http://www.taxformfinder.org/tennessee/form-fae-170