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Updated over 1 year ago on . Most recent reply

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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
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TN tax return for a STR?

John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Posted

I know TN has no state tax.

Is there any requirement to file a TN return on a STR? I live in SC.

Wyoming LLC owns a TN land trust that owns the cabin.

My CPA asked me and said sometimes a state return is filed, but I just assumed no state taxes equaled no state return.

Anyone know any different?

  • John Underwood
  • Most Popular Reply

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    Kyle Akers
    • Pikeville, KY
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    Kyle Akers
    • Pikeville, KY
    Replied

    LLC's are required to file in TN. You may qualify for the Franchise and Excise exemption depending on your specifics. The trust may muddy the waters, but I'm guessing the trust is only exempted if it's owned by individuals.

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