Form a S-Corp in Tennessee
Everything you need to know about forming a S-Corp in Tennessee. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Choose a Corporate Name
Select an available name ending with Corporation, Corp., Incorporated, Inc., Company, or Co. Check availability on Tennessee SOS website.
30 minutes
Appoint a Registered Agent
Designate a Tennessee resident or entity authorized to do business in Tennessee to receive legal documents.
15 minutes
File Articles of Incorporation
Submit Articles of Incorporation to Tennessee Secretary of State with required information and filing fee.
45 minutes
Obtain EIN from IRS
Apply for Federal Employer Identification Number online through IRS website for tax purposes.
20 minutes
What's Next After Filing
Once your S-Corp is officially formed, you'll want to complete these important steps:
- •File Form 2553 for S-Corp Election — Submit IRS Form 2553 within 75 days of incorporation to elect S-Corporation tax status.
- •Create Corporate Bylaws — Draft internal rules governing corporate operations, though not required to be filed with the state.
- •Hold Initial Board Meeting — Conduct first board meeting to adopt bylaws, elect officers, and issue stock certificates.
Advantages
- ✓Pass-through taxation avoiding double taxation
- ✓Limited liability protection for shareholders
- ✓Enhanced credibility with customers and vendors
- ✓Ability to deduct business losses on personal tax returns
Considerations
- •Strict IRS eligibility requirements and ongoing compliance
- •Limited to 100 shareholders with restrictions on shareholder types
- •Required payroll taxes for shareholder-employees
Annual Obligations
What OpenChamber Does
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