How does an “affiliated group” or a “financial institution affiliated group” elect to compute its net worth on a consolidated basis for franchise tax purposes?
Tenn. Code Ann. Section 67-4-2103(g) requires taxpayers making the election to file, on or before the due date of the return for the tax period for which the election is to take effect, a group registration form with the department and provide information necessary to establish the affiliated group or financial institution affiliated group. If a member enters or leaves the group at any time during the tax year, an amended group registration form must be filed with the department on or before the due date of the return for the period in which the event occurs.
Related Questions
- 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:
- How does an "affiliated group" or a "financial institution affiliated group" elect to compute its net worth on a consolidated basis for franchise tax purposes?
- For purposes of computing the net worth franchise tax base on a consolidated basis, what is a "financial institution affiliated group?
