How to Form an LLC in Tennessee: Establishing an LLC in TN
How to Form an LLC in Tennessee: Establishing an LLC in TN
Blog Article
Starting an Limited Liability Company in the Volunteer State|Establishing an business in the Volunteer State seems difficult, but it doesn’t have to be daunting. It's best to manage all necessary actions, from securing the right business title to making sure compliance with government requirements. Knowing the paperwork needed plus protecting your business from the start can prevent issues down the line. Before you even think about paperwork, though, there’s an important initial step that lays the basis for all subsequent steps.
How to Pick Your Tennessee LLC Name
Before you can officially form your LLC in Tennessee, you'll need to choose a unique name that complies with state requirements. Your name must include "Limited Liability Company" or an abbreviation like "LLC."
Make sure your desired name is available by checking the Tennessee Secretary of State’s records. Avoid restricted words that could cause confusion with government agencies, such as “bank” or “trust,” unless you get special permission.
If the name is free, you can reserve it for 120 days by submitting a reservation application and paying a fee.
Choosing Your Registered Agent in Tennessee
Designate a registered agent that can accept legal papers and government notices on behalf of your Tennessee LLC.
Your registered agent must be located at a real address in Tennessee, not just a P.O. box. You can serve as your own agent, hire a professional service, or designate another trusted individual or company.
Ensure your agent is always available during normal business hours to receive important notices.
How to Legally Establish Your LLC in Tennessee
Start by submitting the Articles of Organization to Tennessee to officially create your LLC.
You may file the form online through the Tennessee SOSDirect portal or mail a paper copy. It requires your LLC name, address, registered agent info, management structure, and intended duration.
Double-check every piece of information to prevent delays or rejection. The filing fee is $300, payable by credit card or check. After approval, you’ll receive confirmation, and your LLC is officially recognized in Tennessee.
Developing Your LLC Member Agreement
Though optional, having an operating agreement is a smart move to define management and ownership specifics. This document should outline management responsibilities, profit distribution, member duties, and procedures for decision-making or dissolving the LLC.
A well-drafted operating agreement can prevent disputes and show professionalism. It’s especially important if your LLC has multiple members. All more info members should review and sign the document, and keep it with your business records.
Post-Formation Compliance in Tennessee
After formation, you need to stay up-to-date with Tennessee’s annual requirements to avoid penalties.
You’ll need to file an annual report along with a fee each year to maintain active status in Tennessee.
Ensure your records are up-to-date, and send in annual reports on time to avoid penalties or administrative dissolution.
Conclusion
Getting your LLC up and running in Tennessee is simple with these steps: pick a unique name, choose a good registered agent, file the formation documents, and create an operating agreement. Keep up with annual reports and licenses to stay compliant, and you’re ready for business growth! Report this page