Tennessee

2024 Tennessee State Tax Deadlines

If you are a resident or have been involved in significant business operations within Tennessee, you may need to be aware of certain tax obligations. Here, we explore the key deadlines and extensions for filing and paying these taxes in Tennessee for 2024.

Tennessee Business Tax Deadlines for 2024

Franchise & Excise Taxes

Tennessee Franchise & Excise Tax Deadlines for 2024:

Businesses in Tennessee are subject to Franchise and Excise taxes, which have different deadlines based on the business’s fiscal year end.

You must file & pay Corporate Income Taxes in Tennessee by April 15, 2025.

File Online with the Tennessee Department of Revenue.

Applicable form:

Form FAE170 – Franchise & Excise Tax Return.

Extension to File Taxes in Tennessee for 2024

You must send payment for taxes in Tennessee for the fiscal year 2024 by April 16, 2025.

The Extension Deadline is October 15, 2025 to file your Tennessee Individual Income tax return.

Tennessee automatically grants 7 months extensions on filing corporation income tax returns with the filing of Form FAE 173, Application for Extension of Time to File Franchise and Excise Tax Return.

This is an extension to FILE, not an extension to PAY – payment is still due April 16, 2025.

Tennessee Individual Tax Deadlines for 2024

Individual Tax Deadline for Tennessee 2024

The State of Tennessee currently does not have an Individual Income Tax.

Estates Tax Deadline for Tennessee 2024

Tennessee Estate Tax filings are not required.

Sources

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The material discussed on this page is meant for general illustration and/or informational purposes only and is not to be construed as investment, tax, or legal advice. You must exercise your own independent professional judgment, recognizing that advice should not be based on unreasonable factual or legal assumptions or unreasonably rely upon representations of the client or others. Further, any advice you provide in connection with tax return preparation must comply in full with the requirements of IRS Circular 230.

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2023 Tennessee State Tax Deadlines

2022 Tennessee State Tax Deadlines

Tax positions for businesses and individuals

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Home office

Home office deduction lets remote workers deduct expenses like rent and utilities for business use.

Meal expenses

Business can typically deduct 50% of meals associated with doing business with some cases allowing up to 100% deduction.

Travel expenses

Businesses can deduct necessary travel expenses, like airfare and lodging, directly related to operations for tax savings.

Vehicle expenses

Vehicle tax deduction allows deduction of business vehicle expenses, using a per-mile rate or actual costs, from taxable income.

Late S election

A Late S Election lets a corporation request IRS S corp status post-deadline.

Late C election

A Late C Election is a request to the IRS for C corporation status after the deadline.

Depreciation

Business can typically deduct 50% of meals associated with doing business with some cases allowing up to 100% deduction.

R&D tax credit

Fuel your venture's growth and innovation with the R&D tax credit. Not just for tech firms or big corporations.

Clean vehicle

Businesses and Individuals can receive a tax credit for purchasing new eco-friendly vehicles. Individuals may also qualify on used eco-friendly vehicles

Real estate professional

Real Estate Professional Status allows major working hours in real property businesses to deduct rental losses against other income.

Augusta rule

The Augusta Rule lets homeowners rent their property tax-free for up to 14 days a year without reporting the income.