The Tennessee Bus 416 form is a municipal business tax return required by the Tennessee Department of Revenue. This form helps businesses report their gross sales and calculate the taxes owed to the state. Accurate completion is essential for compliance, so ensure you fill it out correctly by clicking the button below.
The Tennessee Bus 416 form is an essential document for businesses operating within the state, particularly those subject to municipal business taxes. This form serves as a Municipal Business Tax Return, allowing businesses to report their gross sales, deductions, and ultimately, the tax owed to the state. When filling out the form, you'll need to provide important details such as your account number, Federal Employer Identification Number (FEIN), and business license number. The due date for submission is specified, ensuring timely compliance with state regulations. Additionally, if you are filing an amended return or if your business has closed, there are specific checkboxes to indicate these circumstances. The form includes sections for calculating total gross sales, taxable sales, and applicable tax rates based on whether you are a retailer or wholesaler. It also allows for deductions, such as bad debts or returned merchandise, which can significantly impact your taxable amount. Completing this form accurately is crucial, as it requires a declaration of truthfulness and completeness, signed by a principal officer or tax preparer. Overall, the Tennessee Bus 416 form is a vital tool for maintaining compliance and ensuring that your business meets its tax obligations in a straightforward manner.
TENNESSEE DEPARTMENT OF REVENUE
MUNICIPAL BUSINESS TAX RETURN
RV-R0012901
INTERNET (09-15)
FilingPeriod
AccountNo.
FEIN/SSN/TIN
Business License No.
BUS
416
Due Date
LocationAddress
Make your check
payable
to Tennessee
Department of Revenue and mail to:
Tennessee Department of Revenue
Classification
Andrew Jackson State Office Building
1A
500 Deaderick Street
Nashville, Tennessee 37242
Should you need assistance, please contact
Name: _________________________________________________________
theTaxpayer ServicesDivisionbycallingour
statewidenumbers: 1-800-342-1003or(615)
253-0600.
Address: _________________________________________________________
(Address to which returns should be mailed)
If this is an AMENDED RETURN,
}
please check the box at right
City: ________________________________ State: _____
Zip: __________
If this is a return for a CLOSED
business, please check the
box at right.
Character of Seller (Select one only):
Wholesaler Retailer
Business tax jurisdiction for which return is being filed:
(Name of city)
Note: A taxpayer located within a city may be required to file two business tax returns. Please see the instructions for more information.
ROUND TO NEAREST DOLLAR
1.
Total gross sales (Excluding sales tax)
(1)
.00
2.
Enter deductions from Schedule A, Line 18
(2)
(3)
3.
Taxable gross sales (Subtract Line 2 from Line 1)
4.
Business tax (Retailers multiply Line 3 by _________; Wholesalers multiply Line 3 by _________.)
(If rate is not preprinted, refer to chart on reverse)
(4)
5.
Deduct amount of personal property taxes (cannot exceed 50% of Line 4)
(5)
6.
Total tax due (Subtract Line 5 from Line 4. Enter result or $22, whichever is greater)
(6)
7.
Enter credit
memo balance
(7)
8.
Penalty (See
instructions)
9.
Interest (
% per annum on taxes unpaid by the due date; see instructions)
(9)
10.
Total amount due (Add Lines 6, 8, and 9; subtract Line 7)
(Make checks payable to the Tennessee Department of Revenue)
(10)
%.00
FOR OFFICE USE ONLY
I declare this is a true, complete, and accurate return to the best of my knowledge.
SIGN
HERE
President or other Principal Officer, Partner or Proprietor
Date
Tax Return Preparer and Title
41616600000000000000000000000000000000000000000000000000000000000000
Schedule A. Deductions from Gross Sales
1. Sales of services received by persons located in other states
2. Returned merchandise when the sales price is refunded to the customer
3.Sales in interstate commerce where the purchaser takes possession outside Tennessee for use or consumption outside Tennessee.......................................................................................................
4.Cash discounts allowed and taken on sales.......................................................................................
5.Repossessions - The portion of the unpaid principal balance in excess of $500 due on tangible per- sonal property repossessed from customers.......................................................................................
6.The amount allowed as trade-in value for any articles sold...................................................................
7.Bad debts written off during the reporting period and eligible to be deducted for federal income tax purposes.........................................................................................................................................
8.Amounts paid by a contractor to a subcontractor holding either a business license or contractor's license for performing activities described in Tenn. Code Ann. Section 67-4-708(4)(A). Must
complete Schedule B and file with the return......................................................................................
Federal and Tennessee privilege and excise taxes:
(3) .00
(4) .00
(5) .00
(6) .00
(7) .00
(8) .00
(Note: All deductions must have adequate records maintained to substantiate deductions claimed or they will be disallowed.)
...............................................................................................9. Federal and Tennessee gasoline tax
Federal and Tennessee motor fuel tax
11.
Federal and Tennessee tobacco tax on cigarettes
(11)
12. Federal and Tennessee tobacco tax on all other tobacco products
(12)
13.Federal and Tennessee beer tax....................................................................................................
14.Tennessee special tax on petroleum products........................................................
15.Tennessee liquified gas tax for certain motor vehicles..............................................
16.Tennessee beer wholesale tax..........................................................................................................
17.Other deductions not taken elsewhere on the return.........................................................................
(Specify)
18. Total Deductions. Add Lines 1 through 17. Enter here and in Page 1, Line 2
(18)
(13) .00
(14) .00
(15) .00
(16) .00
(17) .00
CLASSIFICATION
RETAILER RATES
WHOLESALER RATES
TAX PERIOD
DUE DATE
Class 1A
0.001
0.00025
Class 1B & 1C
0.000375
Not later than the
Class 1D
0.0005
Notapplicable
15th day of the 4th
Class 1E
0.0003125
Fiscal Year
month following the
Class 2
0.0015
end of the tax
Class 3
0.001875
period.
Class 4
Not applicable
Class 5
0.003
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