Monthly Tax Webinar Franchise & Excise Tax Basics

Extensions, Estimated Taxes, and the $100 Minimum Return

[@JayDubCustoms]

Great video!

[@h.jnguyen2939]

I have a question! How the businesses deduct the FAE taxes as business expenses? In TN, the excise tax is 6.5 % based on net income. Therefore the amount of excise tax is unknown to deduct as business expense until we have a numbers of net income. Hope I can have the right answer.

[@coachaprildulac]

If we are a smllc and most all orders sold are from out of state do we only pay excise tax on in state orders? no where is this kind of info on the tn website. I sell mainly clothing.

[@ruhnet]

Did you find the answer to this question?

[@chasecarter1170]

They aren't here to help, theyre just here to take your money...

[@coachaprildulac]

@@ruhnet tn seems to be a bad state for smllc for small businesses. it is 6.5% or close to that of your total net income we are taxed on for excise tax. I talked with lots of llc small businesses and no one is even told by their cpa on this tax. I only found out about it from the states website where you go to apply for it and it has the taxes listed there. I dissolved my llc and am just a sp.

[@ruhnet]

@@coachaprildulac At least we don't have state income tax. :-)