Get Internet (7-17)

Filling out the INTERNET (7-17) form is crucial for making estimated franchise and excise tax payments in Tennessee. This guide provides detailed, step-by-step instructions to help users navigate the online process effectively.

Follow the steps to fill out the INTERNET (7-17) form accurately.

1. Press the ‘Get Form’ button to access the form and open it in the online editor.
2. Begin by entering the taxable year and your account number or federal employer identification number (FEIN) in the designated fields.
3. Provide the taxpayer name in the corresponding field to ensure accurate identification.
4. Shift to Part II: Alternative Annualized Income Installment Method. In Line 6, indicate the chosen annualization method by entering 'SA', '1', or '2'.
5. Enter the annualization periods (months) for each quarter in Line 7, corresponding to the method selected.
6. Provide your taxable income for each annualization period on Line 8, ensuring accurate data is entered.
7. For Line 9, input the annualization amounts associated with your selection in Line 7.
8. Multiply the taxable income by the annualization amounts in Line 10 to determine the annualized taxable income.
9. Compute the annualized excise tax in Line 11 by multiplying Line 10 by 6.5%. Fill in this amount.
10. In Line 12, input any excise tax credits applicable for each annualization period.
11. Subtract Line 12 from Line 11 in Line 13 to get the excise tax after credits. If the result is zero or less, enter -0-.
12. For Line 14, specify the applicable percentage.
13. Calculate the franchise tax component in Line 16 by utilizing the lesser of Part I, Column (a), Line 2 or Line 3 multiplied by Line 14.
14. Add Lines 15 and 16 together in Line 17 to get your total estimate.
15. From Lines 18, populate the totals as necessary based on previous calculations.
16. Complete Line 23 with the required quarterly installments as calculated under the method chosen.
17. Finally, save your changes, download the form, and print or share it as needed.

Complete your INTERNET (7-17) form online today for an efficient tax payment process.