Tennessee excise and hall income tax for S Corps I have a question relating S-Corporation distributions. If you have an S Corp in Tennessee and have distributions, does the owner have to pay the 6.5% excise tax and the 6% individual "Hall" income tax? Is there a credit on the excise tax if you pay the individual hall income tax or vice versa? Its all double taxation to me. Basically, what would the tax liability, if your the owner of a S Corporation, and have distributions (not salary) of say $10,000 for a Tennessee resident?
Thanks,
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