If you want to form a business entity that earns a profit, but limits taxes and personal liability, you may want to consider forming a Limited Liability Company (LLC). LLCs also have the same powers afforded to a corporation. Forming an LLC in Tennessee is easy, fast, and affordable.
Tennessee LLC Costs | |
---|---|
TotalLegal Fee | $99 |
Tennessee Filing Fee | $306.87 |
Total | $405.87 |
The name of the limited liability company must must contain the words “Limited Liability Company” or the abbreviation “LLC” or “L.L.C.”.
You will need to provide the name and address of your LLC, the business purpose, the Registered Agent's name and physical address, and the name of the organizer of the LLC.
Processing time can vary, but Tennessee filings typically take Immediate Approval. When approved, TotalLegal will upload your Articles of Organization to your account, and send you an email letting you know you are approved to do business in Tennessee.
It's not hard at all. Each Tennessee LLC is required to file an annual report. The annual report is due by the first day of the fourth month after the close of your fiscal year. For most companies, the fiscal year ends on December 31 and the annual report is due April 1st. The fee is $50 per member; $300 minimum and $3,000 maximum. The report and the fee can be completed and paid easiy online.
Making changes to your LLC in Tennessee is pretty inexpensive compared to other states. Most changes you need to amend your LLC and/or change your Registered Agent can be done online, most for $20.00 or less.
TotalLegal provides your LLC with a free Operating Agreement. Since your approved LLC's Articles of Organization do not list the owners (members) of the LLC, having all of this information in your Operating Agreement will make opening a bank account for your LLC in Tennessee very easy.
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