Steps to Start an S-Corporation in Tennessee
- Filing the Articles of Incorporation
- Completing State Registration Requirements
- Obtaining an EIN Number
Regulations for S Corp in Tennessee
As an S Corp in Tennessee, you will need to comply with all state and federal regulations that apply to your business activity types. Annual meetings of shareholders and directors must be held, and company records maintained.
Cost of Starting an S-Corp in Tennessee
The filing fees for starting an S-Corp in Tennessee are $100, with additional potential professional fees if using an attorney or accountant for assistance.
Considerations Before Starting an S Corp in Tennessee
Before forming an S corp, consider factors such as whether an S corporation is the best strategy for your business.
Important Points
- An S Corporation is a tax classification from the IRS.
- Legal business registration and compliance maintenance entail necessary expenses and investment.
How to Elect S Corp Status with the IRS in Tennessee
Fill out IRS Form 2553 to elect S Corp status, which can be filed concurrently with the incorporation documents or at a later date.
Obtaining an EIN for an S Corp
Getting an EIN for an S Corporation is a complimentary process, and it can be done online using the IRS EIN Assistant or by mail, which takes approximately 4 weeks.
Average Cost of LLC to S Corp Conversion
ContractsCounsel’s marketplace data shows the average cost of LLC to S Corp conversion to be $1,200 across all states and industries.