Forming an LLC in Tennessee
Forming an LLC in Tennessee in 7 easy steps
- Pick a permissible name for your company. The name cannot be the same as a name used by another LLC and you must follow trademark law. The name must contain an LLC identifier to the let the public know that it is a limited liability company, e.g. “Ltd Liability Co” or “LLC”.
- You are not required by law to hire an attorney when forming an LLC in Tennessee, but you should be aware that a flawed Operating Agreement can lead to serious IRS problems further down the road. It is therefore common to let an attorney check the Operating Agreement.
- File the Articles of Organization at the Tennessee state filing office and pay the filing fee. In Tennessee, the minimum state filing fee is comparatively large for limited liability companies: $300.00. (For 20 business days.)
- During stage four, the members of the LLC will gather for an Organizational Meeting where they will adopt the Operating Agreement.
- It is now time for the LLC to obtain a Federal Employer Identification Number (FEIN).
- Arrange a bank account for your newly formed company.
- The LLC must apply for a local business license in each applicable city or county. Permits can also be required.
Maintaining an LLC in Tennessee
In Tennessee, LLC’s are required to hand in their annual reports on the first day of the fourth month after the end of the fiscal year or earlier. (If the end of the fiscal year is December 31st, the report must be handed in April 1st or earlier.) When handing in the annual report, you must pay $20.00 in annual report fee.
