Once an election to compute net worth on a consolidated basis is made, how long does it remain in effect?
Tenn. Code Ann. Section 67-4-2103(h) provides that an election to compute net worth on a consolidated basis shall remain in effect for a minimum of five years and thereafter until revoked by filing a group registration revocation form with the department on or before the due date of the return for the tax period for which the election is to be revoked.
Related Questions
- 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?
- Once an election to compute net worth on a consolidated basis is made, how long does it remain in effect?
- Are late elections, or late election revocations, to compute net worth on a consolidated basis allowed?
