Steps to Forming a Tennessee Corporation
Information We Need From You to Start Your Corporation
1: Select a Name: The name of your corporation must include: Corporation, Incorporated, Company or the abbreviation Corp., Inc., or Co.
2: Authorize Shares: A corporations owners are known as shareholders. They own shares of stock in the company. Tennessee requires you to indicate the number of shares you intend to authorize. Most corporations will only authorize a small number of shares, say 100. At your first shareholders meeting, you would then issue 51% of those shares to yourself, giving you control of the company. The remaining shares can be held for future business partners.
3: Choose Management: Corporations are managed by their Directors. Directors are responsible for setting the company policy, establishing salaries and bonuses, issuing additional stock, and appointing the corporate officers. Generally, you would simply appoint yourself as Director and take on the roles of the corporate officers (President, Secretary, Treasurer).
4: Remaining Info Needed to File:
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Registered Agent: legal registered agents must have a physical street address within the state. This is called a registered office (not a PO box). All of our Speedy filings come with one free year of Tennessee registered agent service by Northwest Registered Agent. This service keeps your private home and office addresses out of the public record and fulfills your registered agent, mailing, and principal office requirements.
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Fiscal end: the month of the year that concludes your company’s fiscal year. If you do not indicate a month, the Division of Business Services will automatically elect December as the default fiscal year end.
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Duration: if you want your company to be dissolved at a specific later date, you can indicate that date, otherwise your existence is perpetual.
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Delayed effective date: if you want the legal date of your corporation’s formation to be later than your filing date, you can indicate a later day (no later than 90 days after filing).
Form Your Corporation Here Online
Steps to Forming a Tennessee LLC
Information We Need From You to Start Your LLC
1: Select a Name: Your company name must include one of the following: Limited Liability Company, LLC or L.L.C. If you want to see if your company name is currently available, you can conduct a Tennessee business name search. Tennessee allows you to use a name that is already in existence, but you must be granted permission by that entity.
2: Membership: LLCs are owned by their members. Members do not receive shares of stock like in a corporation. Instead, they are given ownership percentages, which are usually—though not always—based upon how much each member has contributed to the company.
3: Choose Management: LLCs are typically managed by their members. Members make major policy decisions and engage in the daily business operations. An LLC can also choose to appoint a manager to oversee the company. Managers can be either members or outside parties.
4: Remaining Info Needed to File:
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Registered Agent: a registered agent must maintain a physical street address in the state, called a registered office (no PO boxes). All of our Speedy filings come with one free year of Tennessee registered agent service. This free service keeps your personal home and office addresses out of the public record and fulfills your registered agent, mailing and principal office requirements.
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Fiscal year end: the month of the year that concludes your fiscal year. If you do not specify a month, your fiscal year will end in December by default.
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Delayed effective date: if you want your LLC’s official formation date to be later than your filing date, you can specify a later day.
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Management: whether your company will be managed by its members, a manager(s) or a director.
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Members: the number of members in your LLC.
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Duration: if you want your LLC to be dissolved at a specific later date, you can specify the future day, otherwise your duration is perpetual.
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Principal executive office: the address of the business office where your company records and financial books are kept.
Form Your LLC Here Online
Testimonials
“Just wanted to drop a line & say thanks. We received the paperwork and the company seal! My wife and I are thrilled. Also wanted to tell you your web site is GREAT! ” – Jerry H., Nashville, Tennessee
“Thanks for the fast friendly service and advice you have provided when I’ve been dealing with you. On most sites I feel like I am alone but your help really made me feel like I had a partner.” -Susanne N., Memphis, Tennessee
“I just want to say thank you for sending the incorporation package out so I had it in time for my bank appointment. I was very pleased. I am passing your web site on to others. ” – Kelly M., Knoxville, Tennessee
