Does TN have real estate Excise Tax? Gross taxable receipts? HELP

[Tim Sargent]

I'm registering my business on the Tennessee Department of Revenue website and I'm not going to lie, I'm confused. First, I can't figure out which Classification my investment business is (I THINK I have to use Class 2) and I'm not quite sure what gross taxable receipts are. I believe that's excise tax, correct? It's asking me "Will your gross taxable receipts exceed $3,000 per year?" So I guess my question is... does TN have an excise tax on real estate? I've tried to read and understand the TN tax guide that it references to, but I'm lost in the sauce here. PLEASE HELP.