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Common questions about Tennessee SMLLC franchise and excise tax returns

SOLVEDby IntuitLacerte Tax1Updated November 02, 2021

Below, you'll find answers to frequently asked questions about filing franchise and excise tax returns for a single-member limited liability corporation (SMLLC) in Tennessee:

 

Before you begin, make sure the SMLLC activities have been entered in the appropriate activity screen (Schedule C, Schedule E, etc.).

Follow these steps to generate Form FAE-170 in the Individual module:

  1. Go to Screen 54, Taxes.
  2. Select Tennessee SMLLC Franchise, Excise Tax Return from the left navigation menu.
  3. Select the applicable Form (Ctrl+T) from dropdown menu:
    • Schedule C
    • Schedule E (rental)
    • Schedule F/Form 4835
    • Schedule E (partnership)
    • Schedule E (S corporation)
    • Schedule E (estate or trust)
  4. Select the applicable Activity name or number.
  5. Enter any additional information.
  6. If you'd like to generate multiple Forms FAE 170, click Add from the left navigation panel and repeat steps 2-5 for each additional entity.

Follow these steps to view the form:

  1. Go to the Forms tab.
  2. Select TN SMLLC from the top left navigation panel.
    • If you have multiple SMLLCs:
      1. Click on the dropdown menu located at the top of the form.
        Lacerte-forms-tab-dropdown-menu.png
      2. Click on your other SMLLCs listed to toggle between their forms.
        • This will allow you to view FAE 170 in the forms list.

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