Tennessee Llc Operating Agreement With S Corp Election
Description
How to fill out Tennessee Limited Liability Company LLC Operating Agreement?
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FAQ
An LLC can choose to be treated as an S corporation in a two-step process: File a Form 8832, Entity Classification Election. This causes the business to be taxed as a C corporation. Then file Form 2553 to elect an S corporation tax structure.
How to Create an S Corporation in Tennessee Step 1: Choose a name for your Tennessee LLC. Name for your LLC. ... Step 2: Appoint a Tennessee registered agent. ... Step 3: File Tennessee Articles of Organization. ... Step 4: Create an operating agreement. ... Step 5: Apply for an EIN. ... Step 6: File the form to apply for S corp status.
Nope, Tennessee law doesn't require you to file your operating agreement with the state. Your operating agreement is an internal document your LLC should keep on record.
In order to become an S corporation, the corporation must submit Form 2553, Election by a Small Business Corporation signed by all the shareholders. See the Instructions for Form 2553PDF for all required information and to determine where to file the form.