You’ve come to the right place if you’re wanting to launch a business in Tennessee and want to set up a S Corporation. This manual will explain how to form a S Corp in Tennessee and address some often asked queries about business registration and licensing.
Choosing a name for your company is the first step in forming a S Corporation in Tennessee. Your business name must be original and not being used by another company in the state. Search the Tennessee Secretary of State’s website to determine if the name you want is available.
Second step: submit articles of incorporation The Tennessee Secretary of State’s office must receive the Articles of Incorporation as the following step. Online or mail-in filing is an option. There is a $100 filing fee. The name of your company, its goal, the names and addresses of its directors, as well as the names and addresses of its registered agent, must all be listed in your articles of incorporation.
The IRS mandates the use of an EIN, or Employer Identification Number, as a distinctive identity for your company. The IRS website offers a free EIN service. If you’d like, you can also request an EIN via fax or mail.
Register for State Taxes in Step 4 You might need to register with the Tennessee Department of Revenue for state taxes depending on the type of business you run. This covers franchise and excise taxes in addition to sales and use taxes.
Is a sole proprietorship required to be registered in Tennessee?
No, a sole proprietorship is not required to be registered in Tennessee. Nevertheless, according on the type of your business, you might need to acquire a license or permit. Does a solo proprietor in Tennessee require a business license?
Depending on the type of business you have. All companies doing business in certain Tennessee towns and counties must have a business license. If you’re unsure whether you require a business license, check with your local government. What licenses are required to launch a business?
Depending on the type of business you are starting in Tennessee, several permits may be required. A business license, zoning permit, health permit, and construction permit are a few examples of common licenses and permits. How much does getting an EIN in Tennessee cost?
The IRS does not charge for EINs. The process of getting an EIN in Tennessee is free.
Finally, picking a name, submitting Articles of Incorporation, acquiring an EIN, and registering for state taxes are required when forming a S Corporation in Tennessee. According to the type of your firm, it’s also crucial to ascertain whether you require any licences or licenses. After completing these procedures, you’ll be well on your way to launching a prosperous business in Tennessee.