Tennessee § 67-4-714 - Inactive or terminated taxable entities not relieved from filing a return and paying business tax.

§ 67-4-714. Inactive or terminated taxable entities not relieved from filing a return and paying business tax.

The minimum business tax payable under this part by any person subject to the tax levied in this part shall be as follows: Notwithstanding § 67-4-709(1)-(4) for taxpayers included in classifications (1)-(4) in § 67-4-708, the minimum business tax shall be twenty-two dollars ($22.00) per annum per location after applying all deductions and credits set forth in §§ 67-4-711 and 67-4-713. Any person subject to tax under this part that has no established physical location, outlet, or other place of business in the state shall be subject to a single minimum tax as provided in this subdivision (a)(1) for all activity within the state. In the case of coin-operated machines, only the principal place of business shall be subject to the minimum tax; Notwithstanding § 67-4-709(5)(A) for taxpayers included in classification (5)(A) in § 67-4-708, the minimum tax payable shall be four hundred fifty dollars ($450) per annum after applying all deductions and credits set forth in §§ 67-4-711 and 67-4-713; however, under no circumstances shall the tax payable under § 67-4-709(5)(A) be more than one thousand five hundred dollars ($1,500) per annum after applying all deductions and credits set forth in §§ 67-4-711 and 67-4-713. A taxable entity that is incorporated, domesticated, qualified or otherwise registered to do business in this state, but is, or has become, inactive in this state, or whose charter, domestication, qualification or other registration is forfeited, revoked or suspended without the entity being properly dissolved, surrendered, withdrawn, cancelled or otherwise properly terminated, shall not be relieved from filing a return and paying the business tax, which shall be no less than the minimum tax established in subsection (a). Acts 1971, ch. 387, § 7; modified; Acts 1972, ch. 850, § 7; 1973, ch. 172, § 1; 1973, ch. 208, §§ 1, 2; 1977, ch. 314, § 1; T.C.A., § 67-5807; Acts 1984, ch. 832, §§ 28, 29; 2009, ch. 530, § 82; 2010, ch. 1134, § 45; 2013, ch. 313, § 16; 2014, ch. 942, § 4. Compiler's Notes. Acts 2013, ch. 313, § 1 provided that the act, which amended this section, shall be known and may be cited as the “Uniformity and Small Business Relief Act of 2013.” Acts 2013, ch. 313, § 23 provided that the act, which amended this section, shall apply to tax periods that begin on or after January 1, 2014. Acts 2014, ch. 942, § 8 provided that the act shall apply to tax periods that begin on or after July 1, 2014. Amendments. The 2013 amendment, effective January 1, 2014, in (a)(1), inserted “per location” in the first sentence and added the second sentence. The 2014 amendment substituted “classification (5)(A)” for “classification (5)” once and substituted “§ 67-4-709(5) (A)” for “§ 67-4-709(5) ” twice in (a)(2). Effective Dates. Acts 2013, ch. 313, § 23. January 1, 2014. Acts 2014, ch. 942, § 8. July 1, 2014. Cited: Worrall v. Kroger Co., 545 S.W.2d 736, 1977 Tenn. LEXIS 606 (Tenn. 1977); Goldsmith's Div. v. City of Memphis, 631 S.W.2d 396, 1982 Tenn. LEXIS 399 (Tenn. 1982).