In Tennessee, the cost of forming an LLC (limited liability corporation) online is $300 or more. When the LLC’s Articles of Organization are filed, this charge is paid to the Tennessee Secretary of State.
How Much Does a Tennessee LLC Cost?
Fee for Tennessee LLC Online Filing: $300+
The biggest expense of forming an LLC is the $300+ charge for filing your Articles of Organization with the Tennessee Secretary of State online.
Fee for Tennessee Annual Report: $300+
LLCs in Tennessee are required to submit an annual report with the Secretary of State. The filing cost is $50 per member, with a $300 minimum and a $3000 maximum.
This form may be submitted through the Tennessee Secretary of State’s website. It must be submitted by the first of the fourth month after the end of the LLC’s fiscal year.
Fee for Registered Agent
You may be your own registered agent in Tennessee, but employing a registered agent service keeps your firm in compliance, informs you of critical filing dates, and helps you avoid late fines.
Tennessee Franchise Tax: The amount varies.
The franchise tax has a minimum payment of $100 and a rate of 0.25% of the LLC’s net value or tangible property.
The Tennessee excise tax is 6.5% of the LLC’s taxable net income.
How Much Does it Cost to Form a Foreign LLC in Tennessee?
If you currently have an LLC established in another state and want to expand into Tennessee, you must register your LLC as a foreign LLC in Tennessee.
A Tennessee foreign LLC costs $50 per member, with a minimum price of $300 and a maximum fee of $3,000. A foreign LLC may be registered in Tennessee by submitting an Application for Certificate of Authority (Form SS-4233).
Permits and Licenses for Businesses
Depending on your industry and geographic location, your company may need federal, state, and municipal permits/licenses to operate lawfully in Tennessee. This is true regardless of whether you create an LLC or another sort of company structure.
Other Fees for Filing an LLC
There are several extra costs involved with forming an LLC:
LLC Name Reservation: File an Application for Reservation of Name (Form SS-9425) and pay the $20 filing fee to reserve your name for up to 4 months prior to LLC formation.
DBA (Doing Business As) Name:
To establish a name different than your legal LLC company name, file an Application for Registration of Assumed Limited Liability Company Name (Form SS-4230) and pay the $20 filing fee.
Certified Document Copies: Order certified copies of your Tennessee business paperwork from the Secretary of State for $20.
Certificate of Good Standing: This document, also known as a Tennessee certificate of good standing, may be obtained by contacting the Secretary of State and paying the $20 cost. Banks and lending institutions often demand a certificate of good standing.