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Tennessee Free Printable IMC_Business_Plan_April_2017 for 2024 Tennessee Tennessee Enhanced Industrial Machinery Credit

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Tennessee Enhanced Industrial Machinery Credit

TENNESSEE DEPARTMENT OF REVENUE FRANCHISE AND EXCISE TAX ENHANCED INDUSTRIAL MACHINERY CREDIT BUSINESS PLAN Taxpayer Name FEIN Account Number Mailing Address City, State, Zip 1. Capital Investment Investment Period Begin Date Investment Period End Date Amount of Required Capital Investment North American Industry Classification System Code (NAICS) 2. Investment Level (Check the box next to the level of credit for which you are applying)  (a) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(3)(I)(iv) [Minimum investment of one hundred million dollars ($100,000,000).]  (b) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(3)(I)(iii) [Minimum investment of two hundred fifty million dollars ($250,000,000).]  (c) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(3)(I)(ii) [Minimum investment of five hundred million dollars ($500,000,000).]  (d) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(4)(I(i) [Minimum investment of one billion dollars ($1,000,000,000).] 3. Description of Principal Business Activity: 4. Description of Investment: The statements made on this business plan are true to the best of my knowledge and belief. (Must be signed by the taxpayer.) SIGN HERE: Signature and Date Title RV-F1319301 Phone No. Control No. FOR DEPARTMENT OF REVENUE USE ONLY INTERNET (4-17) FRANCHISE AND EXCISE TAX ENHANCED INDUSTRIAL MACHINERY CREDIT BUSINESS PLAN INSTRUCTIONS Who must file A qualified business enterprise must file this business plan in order to qualify for the Industrial Machinery credit at a rate greater than the standard one percent (1%) as provided by Tenn. Code Ann. Section 67-42009(3)(I). When to file The business plan must be filed and approved before a higher rate of industrial machinery credit can be taken on the franchise and excise tax return. Completing the Business Plan Provide the complete legal name of the taxpayer, mailing address, FEIN, and franchise and excise tax account number. If the entity making the investment is a disregarded single member Limited Liability Company whose single member is a corporation, the entity indicated on the business plan should be the corporate member since it is the taxpayer for franchise and excise tax purposes. 1) Capital Investment Investment period: The period during which investment will be made, provided that it does not exceed 3 years. Purchases made outside the investment period do not qualify for the higher rate. The investment period may be extended under certain circumstances upon request to the Commissioner of Economic and Community Development. Amount of required capital investment: The amount of investment to be made in real property, tangible personal property, or computer software owned or leased in Tennessee and valued in accordance with GAAP. The capital investment is deemed to have been made as of the date of payment or the date the business enterprise enters into a legally binding commitment or contract for purchase or construction. 2) Investment Level: The rate of credit is graduated based on the amount of the investment. Check the box to indicate the level for which you are applying. If the actual investment falls into a different level, an amended business plan must be filed and the credit applied at the corrected rate. The applicable rates are as follows: Minimum Investment $100,000,000 $250,000,000 $500,000,000 $1,000,000,000 Rate of Credit 3% 5% 7% 10% 3) Principal Business Activity: Briefly describe the principal business activity of the taxpayer as a whole and of the facility where the investment is being made. 4) Description of Investment: Briefly describe the Investment being made. Mail the completed Business Plan to: Tennessee Department of Revenue P.O. Box 190644 Nashville, TN 37219-0644 For tax assistance call (800) 397-8395 in Tennessee, or if you are located in the Nashville call area or out-ofstate, call (615) 253-0700. For industrial recruitment information, call the Department of Economic and Community Development at (615) 741-3282 in Tennessee or (800) 251-8594 from outside Tennessee.
Extracted from PDF file 2023-tennessee-form-fae-machcredit.pdf, last modified May 2017

More about the Tennessee Form FAE-MachCredit Corporate Income Tax Tax Credit TY 2023

Tennessee Enhanced Industrial Machinery Credit

We last updated the Tennessee Enhanced Industrial Machinery Credit in February 2024, so this is the latest version of Form FAE-MachCredit, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form FAE-MachCredit 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 BUS415-3 County Business Tax Return - Classification 3
Form BUS416-3 Municipal Business Tax Return - Classification 3
Form BUS416-4 Municipal Business Tax Return - Classification 4
Form FAE-183 Franchise and Excise Tax Annual Exemption Renewal

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-MachCredit from the Department of Revenue in February 2024.

Show Sources >

Form FAE-MachCredit is a Tennessee Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

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-MachCredit

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

2023 Form FAE-MachCredit


2022 Form FAE-MachCredit


2021 Form FAE-MachCredit


2020 Form FAE-MachCredit


2019 Form FAE-MachCredit


2018 Form FAE-MachCredit


2017 Form FAE-MachCredit


2016 Form FAE-MachCredit

Tennessee Enhanced Industrial Machinery Credit Business Plan

2015 Form FAE-MachCredit

Tennessee Enhanced Industrial Machinery Credit Business Plan

Tennessee Taxes 2012 Form FAE-MachCredit

Tennessee Enhanced Industrial Machinery Credit Business Plan

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