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Interesting Questions
The Tennessee limited partnership withholding rate refers to the percentage of income that is withheld from nonresident partners of a limited partnership in Tennessee.
Nonresident partners of a limited partnership in Tennessee are subject to the withholding requirement.
The current withholding rate for Tennessee limited partnerships is 6.5% of a nonresident partner’s share of income.
The withholding rate for Tennessee limited partnerships is set at 6.5% by Tennessee's Department of Revenue.
The withholding for Tennessee limited partnerships should be remitted on a quarterly basis, by the last day of the month following the end of the quarter.
Yes, certain nonresident partners may be exempt from the withholding requirement if they meet specific criteria outlined by the Department of Revenue.
Nonresident partners can claim an exemption by submitting Form RV-F0028501 along with the necessary supporting documentation to the Tennessee Department of Revenue.
Failure to comply with the Tennessee limited partnership withholding requirement may result in penalties and interests.
Yes, a nonresident partner may request a refund of the withheld amount if the total withholding exceeds their actual tax liability in Tennessee.
For more information, you can visit the Tennessee Department of Revenue's website or contact their customer service directly.
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