Tennessee § 67-4-305 Credits for franchise and excise taxes

Tennessee Statutes

§ 67-4-305 — Credits for franchise and excise taxes

Tennessee § 67-4-305

Title67

This text of Tennessee § 67-4-305 (Credits for franchise and excise taxes) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 67-4-305 (2026).

Text

Notwithstanding any other provisions of either part 4, 5 or 6 of this chapter, any person paying gross receipts privilege taxes under provisions of either part 4, 5 or 6 of this chapter, and who is entitled to credit against such taxes for franchise and excise taxes paid, shall be allowed such credit when final annual reports of both gross receipts taxes and franchise and excise taxes have been filed covering the corresponding tax base period; provided, that a taxpayer who has obtained an extension of time beyond August 1, within which to file the franchise and excise tax return for the taxpayer's most recently completed fiscal year ended prior to July 1, shall be allowed credit for all payments of franchise and excise taxes made for such corresponding tax base period.

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Notwithstanding any other provisions of either part 4, 5 or 6 of this chapter, any person paying gross receipts privilege taxes under provisions of either part 4, 5 or 6 of this chapter, and who is entitled to credit against such taxes for franchise and excise taxes paid, shall be allowed such credit when final annual reports of both gross receipts taxes and franchise and excise taxes have been filed covering the corresponding tax base period; provided, that a taxpayer who has obtained an extension of time beyond August 1, within which to file the franchise and excise tax return for the taxpayer's most recently completed fiscal year ended prior to July 1, shall be allowed credit for all payments of franchise and excise taxes made for such corresponding tax base period.

Legislative History

Acts 1937, ch. 108, art. 3, § 2; C. Supp. 1950, § 1248.5 (Williams, § 1248.138); impl. am. Acts 1959, ch. 9, § 14; Acts 1963, ch. 269, § 1; 1973, ch. 20, § 2; T.C.A. (orig. ed.), § 67-4315.