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Old 06-22-2020, 08:24 AM
 
137 posts, read 142,657 times
Reputation: 186

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Hi,

I'm quite interested in moving to TN, specifically Cookeville, but I ran into an issue when I looked at taxes.

It appears that there is a business and excise tax on LLCs. However, when reading more deeply with this document ( https://www.tn.gov/content/dam/tn/re...ustaxguide.pdf ) it appears that what I do would be exempt.

I am hoping someone can verify what I'm thinking, or direct me to a professional who can either verify what I think or disabuse me of my error.

I do two things:

First, I provide Allied Health services via the internet to international clients, no clients are in TN, much less the USA.

Second, I sell subscriptions to an online service I offer which connects Allied Health Professionals with international clients who need their services. Currently I have no paying customers in TN and I would expect that if/when I do it would be a very small percentage of my sales.

For the first one, the document I linked says I am exempt (p. 10). For the second one it is not clear but even if I am not exempt entirely, I should be able to exempt all sales of the service to persons not residing in TN (p. 19).

Currently, I have an LLC in Wyoming but I do all of my work from outside the USA. I would move to the USA and either continue my work through my Wyoming LLC or through a new LLC/corp wherever I move.

Can anyone clarify whether what I do is subject to the business and excise taxes?

Or can anyone direct me to a professional who can clarify that for me?

Thank you for any information!
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Old 06-22-2020, 11:35 AM
 
Location: Brentwood, Tennessee
49,927 posts, read 59,935,627 times
Reputation: 98359
Call the city clerk's office at 931-520-5250 or 520-5251.

They can best advise you on your specific situation.
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Old 06-22-2020, 12:18 PM
 
137 posts, read 142,657 times
Reputation: 186
Quote:
Originally Posted by BirdieBelle View Post
Call the city clerk's office at 931-520-5250 or 520-5251.

They can best advise you on your specific situation.
Thanks! Will do!
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Old 06-23-2020, 09:43 AM
 
13,353 posts, read 39,959,401 times
Reputation: 10790
Quote:
Originally Posted by Skoster View Post
Hi,

I'm quite interested in moving to TN, specifically Cookeville, but I ran into an issue when I looked at taxes.

It appears that there is a business and excise tax on LLCs. However, when reading more deeply with this document ( https://www.tn.gov/content/dam/tn/re...ustaxguide.pdf ) it appears that what I do would be exempt.

I am hoping someone can verify what I'm thinking, or direct me to a professional who can either verify what I think or disabuse me of my error.

I do two things:

First, I provide Allied Health services via the internet to international clients, no clients are in TN, much less the USA.

Second, I sell subscriptions to an online service I offer which connects Allied Health Professionals with international clients who need their services. Currently I have no paying customers in TN and I would expect that if/when I do it would be a very small percentage of my sales.

For the first one, the document I linked says I am exempt (p. 10). For the second one it is not clear but even if I am not exempt entirely, I should be able to exempt all sales of the service to persons not residing in TN (p. 19).

Currently, I have an LLC in Wyoming but I do all of my work from outside the USA. I would move to the USA and either continue my work through my Wyoming LLC or through a new LLC/corp wherever I move.

Can anyone clarify whether what I do is subject to the business and excise taxes?

Or can anyone direct me to a professional who can clarify that for me?

Thank you for any information!
Welcome to Tennessee! And specifically, welcome to Cookeville! I grew up all over the world (Philippines, Hong Kong, France) and moved to the Cookeville area a few years ago after enduring Knoxville and Memphis for 17 years. Best move I've ever made. The town is a beehive of activity, it's attractive, the people are absolutely wonderful, and the area is just beautiful. It's also nice being only an hour or so from Nashville, particularly the airport. Another big perk: even though I live out in the boondocks, I still have gigabit internet which is available in most of the rural areas outside of Cookeville and not just inside the city.

I'm afraid your tax question is more complicated than I can handle, but maybe the Tennessee Department of Revenue can help? https://revenue.support.tn.gov/hc/en-us

Good luck!
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Old 06-23-2020, 10:12 AM
 
137 posts, read 142,657 times
Reputation: 186
Quote:
Originally Posted by JMT View Post
Welcome to Tennessee! And specifically, welcome to Cookeville! I grew up all over the world (Philippines, Hong Kong, France) and moved to the Cookeville area a few years ago after enduring Knoxville and Memphis for 17 years. Best move I've ever made. The town is a beehive of activity, it's attractive, the people are absolutely wonderful, and the area is just beautiful. It's also nice being only an hour or so from Nashville, particularly the airport. Another big perk: even though I live out in the boondocks, I still have gigabit internet which is available in most of the rural areas outside of Cookeville and not just inside the city.

I'm afraid your tax question is more complicated than I can handle, but maybe the Tennessee Department of Revenue can help? https://revenue.support.tn.gov/hc/en-us

Good luck!
Thanks very much!

Yes, Cookeville is appearing to be the closest thing to the perfect place so far, at least on paper. My wife and I look forward to visiting to see for ourselves! Currently we live in Vietnam so it'll be a bit before we can get back to the states what with the virus and all, but I'm in the planning stages. At that time we'll take several months to travel the US and after that settle down.

I called various numbers until I got the information I needed about the business tax. Since all of my clients are out of state I wouldn't owe anything.

However, the franchise and excise taxes might come into play. It looks like my best bet is to talk to a CPA to see how I can best balance my tax burden with legal protections.

Do you know of a good, honest and reliable CPA in Cookeville that you would recommend?

Thanks!
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Old 06-23-2020, 08:56 PM
 
13,353 posts, read 39,959,401 times
Reputation: 10790
Quote:
Originally Posted by Skoster View Post
Thanks very much!

Yes, Cookeville is appearing to be the closest thing to the perfect place so far, at least on paper. My wife and I look forward to visiting to see for ourselves! Currently we live in Vietnam so it'll be a bit before we can get back to the states what with the virus and all, but I'm in the planning stages. At that time we'll take several months to travel the US and after that settle down.

I called various numbers until I got the information I needed about the business tax. Since all of my clients are out of state I wouldn't owe anything.

However, the franchise and excise taxes might come into play. It looks like my best bet is to talk to a CPA to see how I can best balance my tax burden with legal protections.

Do you know of a good, honest and reliable CPA in Cookeville that you would recommend?

Thanks!
I haven't needed to use a CPA myself but I sent you the name of a CPA firm in town that I've heard good things about.

There's an Asian grocery store in Cookeville run by some Filipinos, and I was in there yesterday and noticed they had quite a few products from Vietnam. Hopefully, that will make your transition a little easier.
__________________


IMPORTANT READING:
Terms of Service

---
its - possession
it's - contraction of it is
your - possession
you're - contraction of you are
their - possession
they're - contraction of they are
there - referring to a place
loose - opposite of tight
lose - opposite of win
who's - contraction of who is
whose - possession
alot - NOT A WORD
Reply With Quote Quick reply to this message
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