Tennessee Corporation

For Tennessee Corporation prices and State fees, please visit the costs page for forming a Corporation in Tennessee.

A Tennessee corporation is a separate legal entity and is owned by shareholders and managed by directors. The Tennessee corporation directors appoint officers to run the corporation on a day-to-day basis and determine policies and actions to be taken by the corporation. In order for the corporation to be operated correctly, some formalities must be observed. These include, issuing stock, meeting of the shareholders and maintaining meeting minutes. When these formalities are observed, the corporation will be recognized as a separate "eperson" from those who own it, in the eyes of a court, creditor and the IRS.

All corporations and business entities filed with the Tennessee state office are subject to an annual filing of a statement of information, or annual report. This generally means a small filing fee is required. Tennessee corporation directors, officers and legal addresses are sent to the state office. corporation state offices generally allow for the filing of this report online, or you can call Companies Incorporated and have your statement filed for you, for a small service fee. This will ensure that your corporation is in good standing with the state office.

A corporation is a common form of business organization that is chartered by a state government. It is granted many legal rights as an entity separate from its owners. The corporation is distinguished by limiting the liability of its owners, issuing shares of stock that can be transferred from one individual to another, and its ability to have perpetual existence. Because a corporation is separate from its owners it can protect them from being personally liable when the company is sued (known as limited liability). In addition there are tax benefits available to incorporated businesses that are not available to unincorporated businesses.