A Certificate of Existence, also known as a Certificate of Good Standing, is a legal document that attests that a company has met all statutory criteria and is permitted to conduct business in Tennessee. When a business wants to grow, get funding, or engage in particular business operations, this document is often needed.
A company must be registered with the Secretary of State and in good standing with the state of Tennessee in order to get a Certificate of Existence. This implies that the company must have submitted all required documentation, paid all due fees and taxes, and be current with all state laws.
Businesses in Tennessee have two options for applying for a Certificate of Existence: online through the Secretary of State’s website or by mail. Application processing normally takes 3 to 5 business days and costs $20.
Businesses might furthermore need to get a Certificate of Tax Clearance. This document attests to the company’s compliance with Tennessee Department of Revenue regulations and that it has remitted all required state taxes. Businesses must submit a request with the Department of Revenue and pay a $50 charge in order to get a Certificate of Tax Clearance. Usually, processing takes 7 to 10 business days.
Businesses in Tennessee must have registered agents, who function as the company’s point of contact with the state. While companies can employ a registered agent, if they have a physical location in Tennessee and are accessible to receive legal documents during business hours, they can also act as their own registered agent.
In conclusion, a Certificate of Existence is a crucial legal document that attests to a company’s legitimacy and good standing with the state of Tennessee. Businesses must be registered with the Secretary of State, be current on all state regulations, and pay the application cost in order to get this document. Businesses must also have a registered agent and may need to get a Certificate of Tax Clearance.