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As a start-up company in Tennessee, you will be able to enjoy several benefits in the form of tax credits, grants, loans, and Opportunity zone programs, assistance in Infrastructure and Facilities Improvement, and much more.
Tennessee hits high mark in CNBC business ranking 3 in CNBC's 2023 Top State for Business, which was released this week. The Volunteer State jumped up three spots since 2022.
The cost to file articles of organization for a new LLC in Tennessee is minimum $300 ($50 per member, minimum $300 and maximum $3,000). You need to provide basic information about your LLC, including: Primary business address. Business name.
Take a look at the Volunteer State's top 10 startup business options, ing to our research. Start a Real Estate Business. ... Become a Home Improvement Contractor. ... Open a Law Firm. ... Open a Restaurant. ... Become a Consultant. ... Open a Beauty Salon. ... Start an IT Firm. ... Open a Landscaping Business.
Is Tennessee a good state to start a business? Tennessee has relatively low housing and labor costs and a competitive corporate tax rate of 6.5%. However, its sales tax rate, which averages 9.55% when combining state and local rates, is among the highest in the country.
The low cost of living coupled with investment in infrastructure and workforce development has made it an ideal spot for the relocation of some of the biggest companies in the world. These relocations only serve to strengthen the economy of Tennessee bringing in thousands of new jobs.