The price of obtaining an LLC may be a concern if you intend to launch a business in Tennessee. The good news is that Tennessee has one of the more reasonable LLC formation costs out of all the states. The associated costs are broken down as follows:
1. Filing fee: Submitting your Articles of Organization to the Secretary of State is the first step in establishing an LLC in Tennessee. This has a $300 filing cost, which is more than some other states but still affordable.
3. Registered agent fee: Every Tennessee LLC is required to have a registered agent, who is in charge of receiving official correspondence and other crucial material on the company’s behalf. A professional agent can be hired for a charge that can range from $50 to $300 each year, or you can name yourself as the registered agent.
You can also be required to pay other costs such business licenses, permits, and taxes in addition to these payments. It’s crucial to do your study on the prices associated with your particular business and area.
A certificate of good standing or a proof of fact from the state or states where your LLC is registered may also be required if you intend to run it in more than one. The information you require for Georgia and Indiana is broken down as follows:
In Indiana You must submit an annual report and pay a $30 fee in order to get an Indiana letter of good standing. There is a $95 filing fee for submitting your articles of organization in Indiana via mail or online. For a price of $10, you can receive a certificate of fact in Indiana, which attests to the legitimacy of your LLC. Georgia:
Georgia does not require LLCs to get a certificate of existence, in contrast to several states. However, your local government may require that you apply for a company license or permit, which could come with additional costs.
In conclusion, there are three fees associated with forming an LLC in Tennessee: a $300 filing charge, a $50 annual report cost, and a potential registered agent fee. Depending on your sector and area, additional expenses can be involved. If your business is active in many states, you could be required to pay extra fees to each state in order to receive a letter of good standing or a proof of fact.