For purposes of computing the net worth franchise tax base on a consolidated basis, what is an “affiliated group?” An affiliated group is comprised of the following:
• A taxpayer that, standing alone, is subject to Tennessee franchise tax; • all other domestic persons in which the taxpayer, directly or indirectly, have more than 50% ownership interest; • all other domestic persons that, directly or indirectly, have more than 50% ownership interest in the taxpayer; and • all other domestic persons which a person described in (3) above, directly or indirectly, have more than 50% ownership interest regardless of whether such persons do business in Tennessee.
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- For purposes of computing the net worth franchise tax base on a consolidated basis, what is an "affiliated group?
