Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is a corporation that has elected Sub Chapter S status (S corporation) for federal income tax purposes subject to Tennessee?

April 26, 2017Chapter corporation elected federal income tax purposes Status sub

0

Posted

Is a corporation that has elected Sub Chapter S status (S corporation) for federal income tax purposes subject to Tennessee?

1 Answer

0

Posted

Yes. Tenn. Code Ann. Section 67-4-2006(a)(3) does not recognize the federal S status election and requires all S corporations subject to franchise, excise tax to file a franchise, excise tax return and calculate federal taxable income thereon as if they had not elected S status.