How do I form an LLC in Memphis TN?

How do I form an LLC in Memphis TN?

Starting an LLC in Tennessee is Easy

1. STEP 1: Name your Tennessee LLC.
2. STEP 2: Choose a Tennessee Registered Agent.
3. STEP 3: File the Tennessee LLC Articles of Organization.
4. STEP 4: Create Your Tennessee LLC Operating Agreement.
5. STEP 5: Get a Tennessee LLC EIN.

Can I file for an LLC on my own?

If money’s tight, or you don’t want to use a company formation service, we’ve got good news for you — you can form an LLC yourself. Although you’ll still need to pay your state filing fees (they’re unavoidable!), you can save on the costs of having your LLC filed through a professional incorporation business.

Should I use LegalZoom for my LLC?

LegalZoom may be a decent option to form an LLC if you: Want to work with an established brand to start your LLC. Are willing to pay extra for better premium services and features, such as an EIN and registered agent services. Need to form a professional LLC (PLLC)

How much does it cost to open an LLC in TN?

How much does it cost to form an LLC in Tennessee? The Tennessee Secretary of State charges $50 per LLC member included in the filing, with a minimum total fee of $300. The filing fee cannot exceed $3,000 for the Articles of Organization. A convenience fee will also be charged when paying online by credit card.

How do I register an LLC online?

1. Step 1: Select Your State. Online filing is available in all states except Maine.
2. Step 2: Name Your LLC.
3. Step 3: Choose A Registered Agent.
4. Step 4: File Your Articles of Organization.
5. Step 5: Create an LLC Operating Agreement.
6. Step 6: Get an EIN.
7. Open a Business Bank Account.
8. Research Business Licenses and Permits.

What is better for a small business LLC or S corporation?

What Is the Difference Between an LLC and an S Corp? A limited liability company is easier to establish and has fewer regulatory requirements than other corporations. LLCs allow for personal liability protection, which means creditors cannot go after the owner’s personal assets.

Do I need an EIN for my LLC?

An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below. Most new single-member LLCs classified as disregarded entities will need to obtain an EIN. An LLC applies for an EIN by filing Form SS-4, Application for Employer Identification Number.

What should I know before starting an LLC?

Things to Know Before Starting an LLC

• What will your LLC’s name be?
• Who will be your registered agent?
• Who will draft your operating agreement?
• Why liability protection is crucial for most businesses.
• Why maintaining the corporate veil is critical.
• What will your tax options be?

What is the cheapest way to get an LLC?

The least expensive way to form your LLC is filing the forms yourself, although it will depend on the filing fees in your state. Incorporation statements for LLCs are typically the Articles of Organization. The name for these documents will vary from state to state.

Do you need a registered agent for an LLC?

You need a registered agent for an LLC, corporation, or other formal business entity. Sole proprietorships and general partnerships don’t need a registered agent. You must name a registered agent when you file business formation paperwork with your state.

Who pays more taxes LLC or S corp?

Tax Liability and Reporting Requirements LLC owners must pay a 15.3% self-employment tax on all net profits*. S corporations have looser tax and filing requirements than C corporations. An S corp. is not subject to corporate income tax and all profits pass through the company.

Am I considered self-employed if I own an S corp?

If you own and operate a corporation, however, you are not technically self-employed, but an owner-employee of the corporation. Because they do not have an employer paying Social Security benefits on their behalf, they are subject to the self-employment tax.