If you’re planning to start a business in the agriculture, manufacturing, or tourism industries, Tennessee might just be the place for you! You have the Great Smoky Mountains to thank for that – being one of the nation’s most visited national parks makes Tennessee a great spot for all things tourism. Companies including Ruby Tuesday, Saturn Corporation, and Eastman Chemical Company all call the state home to their headquarters as well.
Forbes has the state ranked at 15 out of their best states for business list, noted for its excellence in having a pro-business regulatory climate. Thumbtack.com also has Tennessee ranked with a positive B+. The state scored high in ease of starting a business, hiring and regulations, health and safety, employment, tax code, licensing, environmental, zoning, and networking. With grades like that, Tennessee passes with flying colors!
If you think it’s time to form an LLC or incorporate in Tennessee, keep the following tips in mind.
- Corporations and LLCs alike file documents with the Division of Business Services with Tennessee’s Secretary of State. When filing, be sure to pay the proper filing fee, enclose all legibly signed and dated documents, and conduct a trademark search beforehand to make sure that the name of your business is available and you can fill out a trademark application to use it.
- If you decide to form an LLC in Tennessee, the law states that you’ll need to include a designator in your business name. That can come in the form of using the phrases ‘Limited Liability Company,’ ‘LLC,’ or ‘L.L.C.’
- If you are a foreign Limited Liability Company that wants to do business in Tennessee, you need to file an application for Certificate of Authority along with a Certificate of Existence from your home state.
- If a foreign LLC’s name is already in use in the state, you can file for an assumed name with the Application for Registration of Assumed Limited Liability Company name.
- When you file the Articles of Organization with the Tennessee Business Services Division, you are required to give the full name and address of your LLC’s registered agent in the state. The filing fee depends on the number of members in your LLC, though there is a minimum fee of $300 and a maximum fee of $3,000.
We can help you get your small business started in ‘The Volunteer State’ of Tennessee! Give us a call at 1 (877) 692-6772 or leave a comment below to get started!