Franchise & Excise Taxes in TN, How to File the Return and Other Great Info

Attorneys at Vermillion Law recently tuned in to a Tennessee Department of Revenue seminar on Filing the F&E Tax Return (October 28, 2025), and they had a great handout (CLICK HERE) and recording of the session. There are links inside that guidebook to all kinds of helpful articles. Once the video itself has a link made available to attendees, we will be sure to add it HERE.

For those wondering if this applies to them, if you have a business entity in Tennessee, (LLC, Corporation, Limited Partnership, REIT, Business Trust), you are required to pay Franchise and Excise Taxes in Tennessee with some exceptions (that are covered in this presentation). These taxes can be EXPENSIVE, and failure to pay can result in penalties and the dissolution of your company.

THIS APPLIES TO YOU EVEN IF YOU HAVE AN OUT-OF-STATE ENTITY BUT DO BUSINESS IN TENNESSEE. That’s right…you cannot avoid this tax by establishing your LLC in another state.

Make sure you are aware of your responsibilities as a business owner and do not neglect to follow up on this task. If you need information on filing an extention, follow THIS LINK. Penalty is 5% per month with max of 25%. Minimum penalty is $15 on any late filed return. Interest cannot be waived!

Here’s a link to the Franchise and Excise Tax manual that is not only chock full of important information, but it’s also a great cure for insomnia. It is a searchable document to make things easier to find.

More Great Resources from the TN Department of Revenue

All of the recorded webinars that relate to business issues in TN that are hosted by the Tennessee Department of Revenue are located HERE. They provide the recording and the materials referenced. If you own a business in Tennessee, this is a really nice resource.