The Tennessee FAE 172 form is a declaration used by taxpayers to report their quarterly franchise and excise tax obligations. Taxpayers with a combined tax liability of $5,000 or more for the current year are required to file this form and make estimated quarterly payments. Understanding this process is crucial for compliance and avoiding penalties, so be sure to fill out the form accurately by clicking the button below.
The Tennessee FAE 172 form is a crucial document for taxpayers who have a combined franchise and excise tax liability of $5,000 or more in a given tax year. This form facilitates the declaration of estimated tax payments, which must be made quarterly. The due dates for these payments are set for the 15th day of the fourth, sixth, and ninth months of the current tax year, as well as the first month of the following year. Taxpayers are required to calculate their estimated tax liability, taking into account any applicable credits and prior year overpayments. Each quarterly payment should be one-fourth of the net estimated liability. It is important to note that penalties and interest may apply if payments are late or insufficient, emphasizing the need for timely compliance. The Tennessee Department of Revenue provides specific instructions for completing the form and encourages the use of pre-numbered vouchers for efficient processing. Additionally, assistance is available through designated phone numbers for taxpayers who may have questions or require further clarification.
R0011301
TENNESSEE DEPARTMENT OF REVENUE
QUARTERLY FRANCHISE, EXCISE TAX DECLARATION
FAE
ACCOUNT NO.
Taxable Beginning
172
Year
Ending
TAXPAYER NAME AND MAILING ADDRESS
NAME ___________________________________________________________________
BOX(STREET) ____________________________________________________________
CITY ____________________________________________________________________
STATE ________________
ZIP __________________________
Each taxpayer having a combined franchise and excise tax liability of $5,000 or more for the current tax year must make four quarterly es- timated tax payments. The payments are due on the 15th day of the fourth, sixth, and ninth months of the current year and the first month of the succeeding year.
Make your check payable to the Tennessee Department of Revenue and mail to:
Tennessee Department of Revenue
Andrew Jackson State Office Building
500 Deaderick Street
Nashville, TN 37242
For assistance, you may call in-state toll free 1-800-342-1003 or (615) 253-0600.
REMINDERS
1.Please read instructions on reverse side before preparing worksheet.
2.UsetheprenumberedvouchersandenvelopesprovidedbytheDepartmentofRevenue.
3.Enter the amount from Line 4 of the worksheet to the "Amount of Payment" field on the voucher.
4.If Line 4 of the worksheet is zero, please do not file the voucher.
ROUND TO NEAREST DOLLAR
00
1.
Estimated Franchise, Excise tax liability
______________________
2.
Less: Franchise, Excise Tax Credits and prior year overpayments
3.
Net Estimated Franchise, Excise tax liability
4.
Estimated payment (one fourth of Line 3)
KEEP UPPER PORTION FOR YOUR RECORDS-RETURN COPY BELOW
FAE 172
1
Taxable
BEGINNING
ENDING
ACCOUNT NUMBER
Due Date:
If your account number is not preprinted or unknown, enter federal identification or social security number.
(FEIN/
SSN)
AMOUNT OF
PAYMENT
FOR OFFICE
USE ONLY
RV-R0011301
INTERNET(1-07)
INSTRUCTIONS
1.WHO MUST MAKE ESTIMATED TAX PAYMENTS: Taxpayers who expect a franchise, excise tax liability of $5,000 or more for the current tax year must file a declaration of their franchise, excise tax for the taxable year and make quarterly payments.
2.WHEN TO MAKE PAYMENTS: Quarterly payments of the estimated franchise, excise tax are to be made as follows:
1st payment - The 15th day of the 4th month of the current taxable year. 2nd payment - The 15th day of the 6th month of the current taxable year. 3rd payment - The 15th day of the 9th month of the current taxable year.
4th payment - The 15th day of the 1st month of the subsequent taxable year.
3.REQUIREDPAYMENT: Theminimumamountofeachquarterlypaymentshallbethelesserof:(a)25%ofthecombinedfranchise, excise tax shown on the tax return for the preceding tax year, annualized if the preceding tax year was for less than twelve (12) months; or (b) 25% of 100% of the combined franchise, excise tax liability for the current tax year.
4.PENALTYANDINTEREST: Penaltyattherateof5%permonth,upto25%,andinterestatthecurrentrateperannumareimposed upon any quarterly installment which is late or underpaid. Penalty and interest are computed from the due date of the installment to the date paid or until the fifteenth day of the fourth month following the close of the taxable year.
5.WHICH FORM TO USE: All franchise, excise tax payments must be accompanied by the Tennessee Estimated Franchise, ExciseTaxDeclarationform.Ifyoureceivedapreaddressedpacket,pleaseusetheprenumberedvouchersandenvelopessupplied with the packet. This will help expedite the processing of your estimated payments.
RECORD OF ESTIMATED TAX PAYMENTS
DUE DATE OF PAYMENT
DATE PAID
AMOUNT PAID
_____________________________________________________________
Total payments to be taken on completed return
2
3
4
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