Hi, this is Evan Hutcheson. I want to go over with you what you need to do in order to complete the registration of your business in Tennessee. At this point, I know you've already gone through the process with the Secretary of State to register your business. You either filed the articles of organization if you're an LLC or a charter or a corporation. So now, you need to wait to receive something in the mail from them that has your control number on it. This control number is basically your account number with the Secretary of State. Once you receive the control number, you can proceed to register with the Department of Revenue. The Department of Revenue's website is where you'll pay all your taxes. They have different taxes that you may be required to pay. For an ordinary business, you will likely need to pay the franchise and excise tax, as well as the business tax. If you sell anything and charge sales tax, you will also need to file the sales and use tax. To register for these taxes, you can visit the online services section of the Department of Revenue's website. Click on "Register Business" for new businesses and checkmark the taxes that apply to your business. Fill out the required information and you will be able to register with them quickly. Now, let's discuss the franchise and excise tax. This tax is based on your income and assets. The minimum amount you can pay is $100. If you're an LLC, you only pay on your assets because you get a deduction for self-employment tax. Your self-employment tax for LLCs is usually the same as your income, so it zeros out. Then, you only pay on the assets part, which is the franchise and excises. If you don't...
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Excise tax registration number Form: What You Should Know
Sales and Use Tax Certificate of Registration and Exemption from Payment Form 637 — OMB — OMB.report (See Excise Tax Programs) Fees and Fees See the table below for fee information for the Excise Tax Registration Programs and the California Excise Tax Return. The above fee information is effective December 31, 2017.
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