Forming an LLC Reference Guide

Forming an LLC in Tennessee

Forming an LLC in Tennessee Forming an LLC in Tennessee is quite straightforward, but if you are busy running your enterprise you can always hire an incorporation agent to form the LLC for you. Regardless of how you go about, it is always a good idea to let a legal expert check the Operating Agreement. A flawed Operating Agreement will not prevent you from forming an LLC in Tennessee, but may render the company IRS problems later on.   Forming an LLC in Tennessee in 5 easy steps First and foremost, your company must of course have a name. You have to pick a name that is not already being used by another LLC. The name must also stay clear of any trademark violations. In order to adhere to Tennessee law, you have to include some form of LLC identifier in the name, i.e. “Limited Liability Company” or an abbreviation thereof.   Once you have selected a name that fits the criteria mentioned above, you can file the Articles of Organization at the state filing office in Tennessee. All LLC’s must to have an Operating Agreement, and the next step when forming an LLC in Tennessee is to hold an organizational meeting where the members of the LLC adopt their own Operating Agreement for the LLC. When an Operating Agreement has been formally adopted, it will be possible for the LLC to get a Federal Employer Identification Number (FEIN) and have its own bank account. The final step consists of obtaining a local business license from each city (or county) in which you want your LLC to be able to do business. Important facts to take into consideration before forming an LLC in Tennessee The minimum state filing fee for LLC’s is comparatively high in Tennessee: $300.00. (For 20 business days.) When the business' fiscal year close, you have an additional 3 months to hand in an Annual Report. The Annual Report must be delivered at the first day of the fourth month or earlier. The Annual Report fee is no more than $20.00.