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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.
LLC authorization to sign is generally assigned to a managing member who has the authority to sign binding documents on behalf of the LLC. When signing, the managing member must clarify if the signature is as an individual or in their capacity to sign as the representative of the LLC.
Tennessee requires LLCs to file an annual report and pay a franchise tax. The annual report is due on or before the first day of the fourth month following the close of the LLC's fiscal year.
An LLC member resolution is the written record of a member vote authorizing a specific business action. Formal resolutions aren't necessary for small, everyday decisions. However, they're useful for granting authority to members to transact significant business actions, such as taking out a loan on behalf of the LLC.
An LLC resolution is a document describing an action taken by the managers or owners of a company, with a statement regarding the issue that needs to be voted on. This does not need to be a complicated document, and need only include necessary information.
The only way a member of an LLC may be removed is by submitting a written notice of withdrawal unless the articles of organization or the operating agreement for the LLC in question details a procedure for members to vote out others.
Tennessee's statutory definition of doing business is very broad and encompasses any activity purposefully engaged in within Tennessee by a person with the object of gain benefit, or advantage. Tenn.
Tennessee law has no provisions for entity domestication. If you plan to move your company to Tennessee your can choose between qualifying your existing company as Tennessee Foreign Entity, or dissolving it in the original state of registration and forming a new company in Tennessee.
The first step in terminating a Tennessee LLC is to file Form SS-4246, Notice of Dissolution (Limited Liability Company) with the Department of State, Division of Business Services (DBS). After you file notice of dissolution and wind up your business, you will have to file the appropriate Articles of Termination.
What is a 'Notice of Determination'? You may have received, from the Office of the Tennessee Secretary of State (TN SOS) a 'Notice of Determination,' if the authorized member(s) of your LLC failed to file an Annual Report on the LLC's behalf (or for some other reason listed in T.C.A. § 48-245-301).