| TENNESSEE |
| Name |
Must contain words Incorporated, Corporation, Company, Inc., Corp., Co., Limited Liability Company, Limited, Ltd., L.L.C. or LLC. Fictitious name filing fee is $20. |
| Information about Directors and Officers |
Company must have at least one Director. No age or residence requirement. One director can hold all officer positions. It is required to list Directors, but it is not required to list Officers in the Articles of Incorporation. |
| Requirements for address |
Home address can be considered as company address. P.O. Box is not admissible. |
| Registered Agent |
Registered Agent is required if you do not live or have an office in Tennessee. Otherwise, you can be your Own Registered Agent. |
| Shares/Stock information |
No limit on number of shares to authorize. No extra filing fees based on number of shares or amount of par value. |
| Annual statement |
Every domestic Corporation and every foreign Corporation authorized to transact business in Tennessee (except State and national banks) must file an annual report with the Secretary of State by the 1st day of the 4th month following the close of the Corporation's fiscal year. Filing fee is $20. |
| State fees |
$100 filing fee. Includes $50 filing tax. |
| Income tax rate |
6% of net earnings. |
| Franchise tax |
Excise tax based on stock amount. The tax rate is 25% per $100, or major fraction thereof, of issued and outstanding capital stock, surplus, and undivided profits as shown on the Corporation's books and records at the close of its last fiscal year preceding the making of the required report. Minimum tax is $100. |
| S Corporations |
Status is not recognized by the State. |
| License requirements |
Most businesses must obtain a license and pay a fee if operating in the State. Check with the State to make sure your business is complying with the license requirements for your particular profession. |
| Corporate records |
The charter; Bylaws and all amendments currently in effect; shareholder meeting minutes; a list of current directors and officers including their addresses; and Corporation's most recent annual report must be kept at the principal corporate office. |
