Tennessee Sample Letter regarding Articles of Incorporation - Drafts of Minutes
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How to fill out Sample Letter Regarding Articles Of Incorporation - Drafts Of Minutes?
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Basic Requirements Corporations are required to hold meetings only once a year, especially if the corporation is small. The corporation must give adequate notice to company shareholders or directors and maintain annual meeting minutes, which are a written record of proceedings at the meeting.
Articles of Incorporation example Information about authorized shares. The legal name of the company. The company's official address. The business purpose. A Tax ID number. The names and contact information of official agents of the company. The date of incorporation.
To start a corporation in Tennessee, you must file a For-Profit Corporation Charter with the Secretary of State. You can file the document online, by mail or in person. The For-Profit Corporation Charter costs $100 to file ($102.35 for online filings).
Tennessee-Specific Considerations Just like C corporations, S corporations must pay a 6.5% excise tax in addition to a franchise tax, which is equal to the greater of $0.25 for each $100 of net worth or actual value of tangible property, but no less than $100. However, Tennessee has no personal income tax.
The articles should include: The corporation's name, location, and purpose. The number of shares the corporation is authorized to issue. The registered agent's name and registered office's address. Each incorporator's name and address. The names of each initial director. The corporation's purpose and primary activities.
LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners). Non-U.S. citizens/residents can be members of LLCs; S corps may not have non-U.S. citizens/residents as shareholders. S corporations cannot be owned by corporations, LLCs, partnerships or many trusts.
Immediately in-person. Choose a Corporate Structure. Incorporating means starting a corporation. ... Check Name Availability. ... Appoint a Registered Agent. ... File Tennessee Articles of Incorporation. ... Establish Bylaws & Corporate Records. ... Appoint Initial Directors. ... Hold Organizational Meeting. ... Issue Stock Certificates.
One main difference is that C-corp owners pay a corporate tax to the federal, and sometimes state, governments, while S-corps don't. S-corps owners are limited to 100 shareholders and must file a special form with the IRS to elect S-corp status.
