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Tennessee Free Printable FAE174 1 2015 07-17-2015 for 2018 Tennessee Franchise and Excise Financial Institution Captive Real Estate Investment Trust Tax Return

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Franchise and Excise Financial Institution Captive Real Estate Investment Trust Tax Return
FAE174 1 2015 07-17-2015

TENNESSEE DEPARTMENT OF REVENUE RV-R0012001 (9/17) Franchise and Excise Financial Institution and Captive Real Estate Investment Trust Tax Return FAE 174 Tax Year Beginning Account Number Tax Year Ending FEIN NAICS SOS Control Number Check all that apply: Amended return Final return for termination or withdrawal Legal Name Application of Public Law 86-272 to excise tax Captive REIT not owned by a bank, bank holding company or public REIT Mailing Address Taxpayer has made an election to calculate net worth per the provisions of Tenn. Code Ann. § 67-4-2103(g)-(i) City Annualized income installment method election for quarterly estimates (see instructions) Taxpayer has filed for federal extension State ZIP Code Remit amount on Line 16 to: Tennessee Department of Revenue, Andrew Jackson State Office Building, 500 Deaderick Street, Nashville, TN 37242 Round to the nearest dollar Schedule A - Computation of Franchise Tax 1. Total net worth from Schedule F, Schedule F1, Line 3, or F2, Line 3 ................................................................... (1) 2. Total real and tangible personal property from Schedule G, Line 15 .................................................................. (2) 3. Franchise tax (25¢ per $100 or major fraction thereof on the greater of Lines 1 or 2; minimum $100) ........ (3) _____________________________________ _____________________________________ _____________________________________ Schedule B - Computation of Excise Tax 4. 5. 6. 7. Income subject to excise tax from Schedule J, Line 34 ........................................................................................... (4) Excise tax (6.5% of Line 4) ............................................................................................................................................ (5) Recapture of tax credit (from Schedule T, Line13) .................................................................................................. (6) Total excise tax due (add Lines 5 and 6) ................................................................................................................... (7) _____________________________________ _____________________________________ _____________________________________ _____________________________________ Schedule C - Computation of Total Tax Due or Overpayment 8. 9. 10. 11. 12. 13. 14. 15. 16. Total franchise and excise taxes (add Lines 3 and 7) ........................................................ (8) Total credit from Schedule D, Line 9 (cannot exceed Line 8) .......................................... (9) Net tax (subtract Line 9 from Line 8; if Line 9 exceeds Line 8, enter zero here) ........... (10) Total payments from Schedule E, Line 7 ............................................................................ (11) Penalty (see instructions) ....................................................................................................... (12) Interest (see instructions) ........................................................................................................................................... (13) Penalty on estimated franchise and excise tax payments .................................................................................. (14) Interest on estimated franchise and excise tax payments .................................................................................. (15) Total amount due (overpaid) (add Lines 10, 12, 13, 14, and 15, subtract Line 11) .......................................... (16) If overpayment reported on Line 16, complete A and/or B below: A. Credit to next year’s tax $ ___________________________________ B. Refund $ _____________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ Under penalties of perjury, I declare that I have examined this report, and to the best of my knowledge Po wer of Attorney - Check YES if this and belief, it is true, correct, and complete. taxpayer's signature certifies that this tax Title Date preparer has the authority to execute this Taxpayer's Signature form on behalf of the taxpayer and is au thorized to receive and inspect Tax Preparer's Signature Date Telephone Preparer's PTIN confidential tax information and to perform any and all acts relating to respective tax Preparer's Address State ZIP Code City matters. YES Preparer's Email Address FOR OFFICE USE ONLY page 2 Taxable Year Taxpayer Name Account No./FEIN Schedule D - Schedule of Credits 1. 2. 3. 4. 5. 6. 7. 8. 9. Gross Premiums Tax Credit (cannot exceed Schedule C, Line 8) ............................................................... (1) Tennessee income tax (cannot exceed Schedule B, Line 5) ....................................................................... (2) Community Investment Credit ........................................................................................................................ (3) Tennessee Rural Opportunity Fund Credit .................................................................................................... (4) Tennessee Small Business Opportunity Fund Credit ................................................................................... (5) Industrial Machinery Credit from Schedule T, Line 11 ................................................................................. (6) Job Tax Credit from Schedule X, Line 46 ........................................................................................................ (7) Additional Annual Job Tax Credit from Schedule X, Line 38 ........................................................................ (8) Total credit (add Lines 1 through 8; enter here and on Schedule C, Line 9) ............................................. (9) ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ Schedule E - Schedule of Required Quarterly Installments and Payments 1. 2. 3. 4. 5. 6. 7. Required Quarterly Installments Overpayment from previous year, if available .......................................................................................... First quarterly estimate ............................................................................. (2a) _______________________ Second quarterly estimate ........................................................................ (3a) _______________________ Third quarterly estimate ............................................................................ (4a) _______________________ Fourth quarterly estimate ......................................................................... (5a) _______________________ Extension payment ........................................................................................................................................ Total payments (add Lines 1 through 6; enter here and on Schedule C, Line 11) ................................. Amount Paid (1) ____________________________ (2b) ___________________________ (3b) ___________________________ (4b) ___________________________ (5b) ___________________________ (6) ____________________________ (7) ____________________________ Computation of Franchise Tax Schedule F1 - Captive Real Estate Investment Trust Net Worth 1. Net worth (total assets less total liabilities) .................................................................................................. (1) ______________________________ % 2. Franchise tax apportionment ratio (Schedule N if applicable or 100%) .................................................... (2) ______________________________ 3. Total (multiply Line 1 by Line 2; enter here and on Schedule A, Line1) ...................................................... (3) ______________________________ Schedule F2 - Consolidated Net Worth 1. Net worth (total assets less total liabilities) .................................................................................................. (1) ______________________________ % 2. Franchise tax apportionment ratio (Schedule 174SC or 174NC) ................................................................ (2) ______________________________ 3. Total (multiply Line 1 by Line 2; enter here and on Schedule A, Line1) ...................................................... (3) ______________________________ Schedule G - Determination of Real and Tangible Property Book Value of Property Owned - Cost less accumulated depreciation 1. 2. 3. 4. 5. 6. 7. 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) a. Inventories and work in progress ............................................................................................................ (7a) b. Exempt inventory in excess of $30 million ............................................................................................. (7b) 8. Certified pollution control equipment (include copy of certificate) ............................................................ (8) 9. Exempt required capital investments ............................................................................................................ (9) 10. Subtotal (add Lines 1 through 7a, subtract Lines 7b through 9) ............................................................... (10) In Tennessee ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ Rental Value Of Property Used But Not Owned 11. 12. 13. 14. 15. In Tennessee Net Annual Rental Paid for: Real property .............................................................................................. _____________________ x8 (11) Machinery and equipment used in manufacturing and processing ..... _____________________ x3 (12) Furniture, office machinery, and equipment ........................................... _____________________ x2 (13) Delivery or mobile equipment .................................................................. _____________________ x1 (14) Tennessee total (add Lines 10 through 14; enter here and on Schedule A, Line 2) ............................... (15) ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ Schedule H - Gross Receipts 1. Gross receipts or sales per federal income tax return ............................................................................... (1) _____________________________ page 3 Taxable Year Account No./FEIN Taxpayer Name Schedule SF - Financial Institution Apportionment - Standard The apportionment schedules below are to be used by financial institutions or unitary groups of financial institutions doing business within and without Tennessee, as defined by Tennessee statutes, who have not elected to compute net worth on a consolidated basis. In cases of unitary groups of financial institutions filing a combined return, a separate franchise tax apportionment ratio is computed for each member of the unitary filing group and applied to the separate net worth of each member of the group to obtain the net worth apportioned to Tennessee. All group member bases are then combined to obtain the franchise tax net worth base for the unitary filing group in Schedule F. Parent or Unitary Group Member Name FEIN Tennessee Receipts Everywhere Receipts Ratio Schedule F - Non-Consolidated Net Worth (Financial Institutions Only) Parent or Unitary Group Member Name FEIN Net Worth Indebtedness Everywhere Total Ratio Total (Enter here and on Schedule A, Line1) ........................................................................................................................................... Tennessee Total page 4 Taxable Year Taxpayer Name Account No./FEIN Computation of Excise Tax Schedule J1 - Computation of Net Earnings for Entities Treated as Partnerships Additions: 1. Ordinary income or loss (federal Form 1065, Line 22) ...................................................................................... (1) 2. Income items specifically allocated to partners, including guaranteed payments to partners .................... (2) 3. Any net loss or expense distributed to a publicly traded REIT .......................................................................... (3) 4. Total additions (add Lines 1 through 3) ............................................................................................................... (4) Deductions: 5. Expense items specifically allocated to partners not deducted elsewhere .................................................... (5) 6. 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) 7. 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) 8. Any net gain or income distributed to a publicly traded REIT ............................................................................ (8) 9. Any loss on the sale of an asset sold within 12 months after the date of distribution ................................... (9) 10. Total deductions (add Lines 5 through 9) ......................................................................................................... (10) 11. Total (subtract Line 10 from Line 4; enter here and on Schedule J, Line 1) .................................................. (11) __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ Schedule J2 - Computation of Net Earnings for a Single Member LLC Filing as an Individual Additions: Business Income from federal Form 1040, Schedule C ..................................................................................... (1) Business Income from federal Form 1040, Schedule D .................................................................................... (2) Business Income from federal Form 1040, Schedule E ..................................................................................... (3) Business Income from federal Form 1040, Schedule F ..................................................................................... (4) Business Income from federal Form 4797 .......................................................................................................... (5) Other: federal 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 (subtract Line 8 from Line 7; enter here and on Schedule J, Line 1) ....................................................... (9) 1. 2. 3. 4. 5. 6. 7. __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ Schedule J3 - Computation of Net Earnings for Entities Treated as Subchapter S Corporations Additions: 1. Ordinary income or loss (federal Form 1120S, Line 21) .................................................................................... (1) 2. Income items to extent includable in federal income were it not for "S" status election .............................. (2) 3. Total additions (add Lines 1 and 2) ...................................................................................................................... (3) Deductions: 4. Expense items to extent includable in federal expenses were it not for "S" status election ......................... (4) 5. Any loss on the sale of an asset sold within 12 months after the date of distribution ................................... (6) 6. Total deductions (add Lines 4 and 5) ................................................................................................................... (6) 7. Total (subtract Line 6 from Line 3; enter here and on Schedule J, Line 1) ....................................................... (7) __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ Schedule J4 - Computation of Net Earnings for Entities Treated as Corporations and Other Entities 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Additions: Taxable income or loss before net operating loss deduction and special deductions (federal Form 1120, Line 28) and ordinary income or loss (federal Form 1065, Line 22) ............................................ (1) Unrelated business taxable income (federal Form 990-T, Line 30) ................................................................. (2) Other: federal 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 (subtract Line 10 from Line 7; enter here and on Schedule J, Line 1) .................................................. (11) __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ page 5 Taxable Year Taxpayer Name Account No./FEIN Schedule J - Computation of Net Earnings Subject to Excise Tax 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. Federal income or loss (enter amount from Schedule J1, J2, J3, or J4) ............................................................... (1) Expenses from transactions between members of the group ........................................................................... (2) Dividends and receipts from transactions between members of the group .................................................... (3) Net income for group (add Lines 1 and 2, subtract Line 3) ................................................................................. (4) Additions: Intangible expenses paid, accrued or incurred to an affiliated business entity or entities deducted for federal income tax purposes .................................................................................................................................. (5) Any depreciation under the provisions of IRC Section 168 not permitted for excise tax purposes due to Tennessee permanently decoupling from federal bonus depreciation ............................................................ (6) Gain on the sale of an asset sold within 12 months after the date of distribution to a nontaxable entity ..... (7) Tennessee excise tax expense (to the extent reported for federal purposes) ................................................. (8) Gross premiums tax deducted in determining federal income and used as an excise tax credit ................. (9) Interest income on obligations of states and their political subdivisions, less allowable amortization ...... (10) Depletion not based on actual recovery of cost ................................................................................................ (11) Excess fair market value over book value of property donated ...................................................................... (12) 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. ............................................................................................................................... (13) Captive REIT Dividends Paid Deduction taken in computing federal income (does not apply to a captive REIT that is owned, directly or indirectly, by a bank, bank holding company or a public REIT) ..................... (14) Any net loss or expense received from a pass-through entity subject to the excise tax .............................. (15) Total additions (add Lines 5 through 15) ............................................................................................................ (16) Deductions: Any depreciation under the provisions of IRC Section 168 permitted for excise tax purposes due to Tennessee permanently decoupling from federal bonus depreciation ......................................................... (17) Any excess gain (or loss) from the basis adjustment resulting from Tennessee permanently decoupling from federal bonus depreciation ........................................................................................................................ (18) Dividends received from corporations, at least 80% owned ........................................................................... (19) Donations to qualified public school support groups and nonprofit organizations ...................................... (20) Any expense, other than income taxes, not deducted in determining federal taxable income for which a credit against the federal income tax is allowable ........................................................................................ (21) Adjustments related to the safe harbor lease election (see instructions) ..................................................... (22) Nonbusiness earnings (from Schedule M, Line 8) ............................................................................................. (23) Intangible expenses paid, accrued or incurred to an affiliated entity or entities. Form IE - Intangible Expense Disclosure form must be included with this return .......................................................................... (24) 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. § 67-4-2006(b)(2)(N) ............................ (25) Bad debts not deducted but allowed by IRC Section 585 or 593 as it existed on December 31, 1986 ....... (26) Any net gain or income received from a pass-through entity subject to the excise tax ............................... (27) Total deductions (add Lines 17 through 27) ....................................................................................................... (28) Computation of Taxable Income: Total business income (loss) (add Lines 4 and 16, subtract Line 28; if loss, complete Schedule K) ............ (29) Excise tax apportionment ratio (Schedule SE or N, if applicable, or 100%) ................................................... (30) Apportioned business income (loss) (multiply Line 29 by Line 30) .................................................................. (31) Nonbusiness earnings directly allocated to Tennessee (from Schedule M, Line 9) ...................................... (32) Loss carryover from prior years (from Schedule U) ......................................................................................... (33) Subject to excise tax (add Lines 31 and 32, subtract Line 33; enter here and on Schedule B, Line 4) ........ (34) __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ % __________________________ __________________________ __________________________ __________________________ __________________________ Schedule K - Determination Of Loss Carryover Available 1. Net loss from Schedule J, Line 29 ........................................................................................................................... (1) Additions: 2. Amounts reported on Schedule J, Lines 19 and 23 ............................................................................................... (2) 3. Amounts reported on Schedule J1, Lines 6 and 7, and Schedule J2, Line 8 ....................................................... (3) 4. Reduced loss (add Lines 1 through 3; if net amount is positive, enter zero) ..................................................... (4) 5. Excise tax apportionment ratio (Schedule SE or N, if applicable, or 100%) ...................................................... (5) 6. Current year loss carryover available (multiply Line 4 by Line 5) ....................................................................... (6) __________________________ __________________________ __________________________ __________________________ % __________________________ __________________________ page 6 Taxpayer Name Taxable Year Account No./FEIN Schedule SE - Financial Institution Apportionment Schedule for Excise Tax Purposes In Tennessee Everywhere 1. Receipts from leases of real property ............................................................................. (1) _________________________________________________ 2. Interest income and other receipts from loans or installment sales secured by real or tangible personal property ................................................................................... (2) _________________________________________________ 3. Interest income and other receipts from consumer loans which are not secured .... (3) _________________________________________________ 4. Interest income and receipts from commercial and installment loans which are not secured by real or tangible property ........................................................................ (4) _________________________________________________ 5. Receipts and fee income from letters of credit, acceptance of drafts, and other devices for guaranteeing loans or credit ........................................................................ (5) _________________________________________________ 6. Interest income, merchant discount, and other receipts including service charges from credit card and travel and entertainment credit cards, and credit cardholders’ fees ................................................................................................................ (6) _________________________________________________ 7. Sales of an intangible or tangible asset .......................................................................... (7) _________________________________________________ 8. Receipts from the sale of a security by a dealer in such security ................................ (8) _________________________________________________ 9. Receipts from fiduciary and other services .................................................................... (9) _________________________________________________ 10. Receipts from the issuance of travelers checks, money orders and U.S. savings bonds ................................................................................................................... (10) _________________________________________________ 11. Interest income and other receipts from participation loans ..................................... (11) _________________________________________________ 12. Other business receipts .................................................................................................. (12) _________________________________________________ 13. Total receipts (add Lines 1 through 12) ......................................................................... (13) _________________________________________________ 14. Apportionment ratio (divide total Tennessee receipts by total everywhere % receipts; enter here and on Schedule J, Line 30) ................................................................................................... (14) _________________________ Schedule N - Apportionment - Captive REITS Property Use original cost of assets In Tennessee (Combined) a. Beginning of Taxable Year b. End of Taxable Year Total Everywhere (Combined) a. Beginning of Taxable Year b. End of Taxable Year 1. 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 ............................................... _____________________________________________________________________________________________ a. b. a. b. 7. Total (add Lines 1 through 6) .................. _____________________________________________________________________________________________ 8. Average value (add Lines 7(a) & (b), divide by two) ............................................ _____________________________________________________________________________________________ 9. Rented property (rent paid x 8) ............... _____________________________________________________________________________________________ Use triple weighted sales factor a. In Tennessee b. Total Everywhere c. Franchise Ratio d. Excise Ratio % % Property factor (add Lines 8 and 9) ........ _____________________________________________________________________________________________ % % Payroll factor ............................................. _____________________________________________________________________________________________ % % Sales factor (business gross receipts) ... _____________________________________________________________________________________________ Total ratios (add Lines 10, 11 and % % (Line 12 x three)) ...................................... _____________________________________________________________________________________________ 14. Apportionment ratio (divide Line 13 by five, or by the number of factors with everywhere values greater than zero) (Enter franchise ratio to Schedule F1, Line 2. % % Enter excise ratio on Schedule J, Line 30.) ............................................................................. ______________________________________________ 10. 11. 12. 13. page 7 Taxable Year Taxpayer Name Account No./FEIN Schedule M - Nonbusiness Earnings Allocation and apportionment schedules may be used only by taxpayers doing business outside the state of Tennessee within the meaning of Tenn. Code Ann. §§ 67-4-2010 and 67-4-2110. The burden is on the taxpayer to show that the taxpayer has the right to apportion. 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" 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 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" - all earnings other than business earnings Description of Nonbusiness Earnings (If further description is necessary, see below) Gross Amounts *Less Related Expenses Net Amounts Net Amounts Allocated Directly to Tennessee 1. __________________________________________________________________________________________________________________________________________ 2. __________________________________________________________________________________________________________________________________________ 3. __________________________________________________________________________________________________________________________________________ 4. __________________________________________________________________________________________________________________________________________ 5. __________________________________________________________________________________________________________________________________________ 6. __________________________________________________________________________________________________________________________________________ 7. __________________________________________________________________________________________________________________________________________ Total nonbusiness earnings (Enter here and on Schedule J, Line 23) 8. __________________________________________________________________________________________________________________________________________ Nonbusiness earnings allocated directly (Enter here and on Schedule J, Line 32) 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. Items such 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% of such earnings and that the expenses related to other nonbusiness earnings will be an amount equal to 5% of such earnings. (see TENN. COMP. R. & REGS. 1320-06-01.23(3)). page 8 Taxable Year Account No./FEIN Taxpayer Name Schedule T - Industrial Machinery and Research and Development Equipment Part 1: Tax Credit Computation 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. § 67-4-2009(3). 1. Purchase price of industrial machinery and research and development equipment ...................................... (1) _________________________ % 2. Percentage allowed (generally 1%*) ..................................................................................................................... (2) _________________________ 3. Current year credit (multiply Line 1 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 (add Schedule A, Line 3 and Schedule B, Line 5) ......... (6) _________________________ 7. Limitation on credit (50% of Line 6) ........................................................................................................................ (7) _________________________ 8. Franchise and excise tax liability before any credits (add Schedule A, Line 3 and Schedule B, Line 5) ......... (8) _________________________ 9. Credits from Schedule D, Lines 1 through 5 and Schedule D, Line 8 ................................................................. (9) _________________________ 10. Tax before Industrial Machinery Credit (subtract Line 9 from Line 8) ............................................................ (10) _________________________ 11. Amount available in current year (enter the smaller value of Lines 5, 7, or 10 here, and on Schedule D, Line 7) ............................................................................................................................................... (11) _________________________ Part 2: Recapture of Tax Credit The Industrial Machinery Tax Credit previously established on this form must be partially recaptured if the equipment on which it was based was sold or removed from the state before the end of the equipment’s life as established for federal income tax purposes. The recapture amount is a percentage of useful life remaining at the time of sale or removal multiplied by the credit originally established on this form. Previously established credits have either offset tax or populated the carryover table Schedule V. Complete the Industrial Machinery Credit Recapture Worksheet and then enter the applicable recapture amounts on Lines 12 and 13 below. 12. Reduction to credit carryover table, Schedule V, from recapture worksheet, Part 2, Line 16 ..................... (12) _________________________ 13. Recapture of credit from recapture worksheet, Part 2, Line 17 (enter here and on Schedule B, Line 6) ... (13) _________________________ *The percentage allowed on Part 1, Line 2 above is 1%, unless the taxpayer has met the requirements of Tenn. Code Ann. § 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% page 9 Taxable Year Account No./FEIN Taxpayer Name Schedule U - Schedule of Loss Carryover Net operating losses may be carried forward and used to offset income for up to 15 years or until fully utilized, whichever occurs first. Tenn. Code Ann. § 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 IRC 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. 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 33) ............................................................................... Schedule V - Schedule of Industrial Machinery and Research and Development Equipment Credit Carryover Industrial Machinery Credit may be carried forward and used to offset franchise and excise tax for up to 15 years or until fully utilized, whichever occurs first. Year Period Ended (MM/YY) Original Return or as Amended Used in Prior Year(s) Expired or Recaptured 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-174.pdf, last modified November 2017

More about the Tennessee Form FAE-174 Corporate Income Tax Tax Return TY 2017

We last updated the Franchise and Excise Financial Institution Captive Real Estate Investment Trust Tax Return in February 2018, so this is the latest version of Form FAE-174, fully updated for tax year 2017. You can download or print current or past-year PDFs of Form FAE-174 directly from TaxFormFinder. You can print other Tennessee tax forms here.

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-173 Application for Extension of Time to File
Form FAE-183 Franchise and Excise Tax Annual Exemption Renewal
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-174 from the Department of Revenue in February 2018.

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Form FAE-174 is a Tennessee Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

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-174

We have a total of four past-year versions of Form FAE-174 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2017 Form FAE-174

FAE174 1 2015 07-17-2015

2016 Form FAE-174

FAE174 1 2015 07-17-2015

2015 Form FAE-174

Franchise and Excise Financial Institution and Captive Real Estate Investment Trust Tax Return 2013

Franchise and Excise Financial Institution Captive Real Estate Investment Trust Tax Return 2012 Form FAE-174

Franchise and Excise Financial Institution Captive Real Estate Investment Trust Tax Return


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Source: http://www.taxformfinder.org/tennessee/form-fae-174