Tennessee Franchise and Excise Federal Income Revision

Franchise and Excise Federal Income Revision
FAE - Federal Income Revision
RV-F1406301 (9/21)

TENNESSEE DEPARTMENT OF REVENUE
Franchise and Excise Tax Federal Income Revision

Taxpayer Name

FEIN

Account Number

Taxable Period Ending

Part 1 - Computation of Net Earnings Subject to Excise Tax
1.
2.

Contribution carryover from prior period(s) ................................................

4.
5.

Capital gains offset by capital loss carryover or carryback .......................
Any depreciation under the provisions of IRC Section 168 not
permitted for excise tax purposes due to Tennessee permanently
decoupling from federal bonus depreciation ...............................................
Other (specify or attach documentation) ......................................................

7.

Total additions (add Lines 2 through 6) .........................................................
Deductions:

8.
9.

Dividends received from corporations, at least 80% owned ......................
Current year contributions in excess of amount allowed by the
federal government .........................................................................................
Portion of current year’s capital loss not included in federal taxable
income ................................................................................................................
Any income included for federal tax purposes and any depreciation
or other expense that could have been deducted for safe harbor
lease elections ..................................................................................................
Any depreciation under the provisions of IRC Section 168 permitted
for excise tax purposes due to Tennessee permanently decoupling
from federal bonus depreciation ....................................................................
Other (specify or attach documentation) ......................................................

10.
11.
12.
13.

As Last Reported

Net Change
Increase (Decrease)

%

%

As Amended

Federal income or loss from Schedule J, Line 1 ............................................
Additions:
Tennessee excise tax expense (to the extent reported for federal
purposes) ...........................................................................................................

3.

6.

Submit form to:
Tennessee Department of Revenue
F&E Unit
P.O. Box 190644
Nashville, TN 37219-0644

14. Total deductions (add Lines 8 through 13) ....................................................
Computation of Taxable Income:
15. Total business income (loss) (add Lines 1 and 7, subtract Line 14;
if loss, complete Part 2) ...................................................................................
16. Apportionment ratio (Schedule N, O, P, R, S, or SE, if applicable,
or 100%) .............................................................................................................

%

17. Apportionment business income (loss) (multiply Line 15 by Line 16) .......
18. Non-business earnings directly allocated to Tennessee (from
Schedule M, Line 9) ..........................................................................................
19. Loss carryover from prior years ....................................................................
20. Income subject to excise tax (add Lines 17 and 18, subtract Line 19) ......
21. Excise tax due (multiply Line 20 by 6%, or 6.5% for returns ending on or
after July 15, 2002) ............................................................................................
22. Excise tax paid ...................................................................................................
23. Tax credits ..........................................................................................................
24. Additional excise tax due (overpaid) per federal income revisions
(subtract Lines 22 and 23 from Line 21) ........................................................
Power of Attorney - Check YES if this
taxpayer's signature certifies that this tax
preparer has the authority to execute this
form on behalf of the taxpayer and is
authorized to receive and inspect
confidential tax information and to perform
any and all acts relating to respective tax
matters.
YES

Under penalties of perjury, I declare that I have examined this form, including all accompanying
schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete.
Taxpayer's

e

Tax Preparer's Signature
Preparer's Address
Preparer's Email Address

Date
Preparer's PTIN

Title
Telephone
State

ZIP Code

Taxpayer Name

Account Number

FEIN

Part 2 - Determination of Loss Carryover Available

Net Change
As Last Reported Increase (Decrease)

As Amended

1. Federal income or loss from Part 1, Line 15 ....................................................
Additions:
2. Dividends and non-business earnings deducted on Schedule J ....................
3. Amounts recorded for self-employment tax and qualified pension
deductions ............................................................................................................
4. Reduced loss (add Lines 1 through 3; if net amount is positive enter zero)
5. Excise tax ratio (Schedule N, O, P, R, S or SE, if applicable, or 100%) ...........
6. Current year loss carryover available (multiply Line 4 by Line 5) ................

%

%

%