If you want to register a new business in Tennessee, there are steps that you need to follow to complete your application.
Step 1: Determine the type of business entity.
You must first decide what type of business structure to register for: corporation, LLC, partnership, or sole proprietorship. The succeeding steps of your registration process will vary based on your selection. Your choice will also have different benefits and tax implications.
Step 2: Register your business name.
Choose a name that would represent your business and then register that with the Secretary of State. If you are operating your business under a name that is different from your name, then filing is a must. The business name registration is also a way to legally protect your business.
Step 3: Secure an EIN.
This can be obtained through the Internal Revenue Service office or website. This number identifies your business as operating in the state of Tennessee (like a social security number). This can be completed in a few minutes.
Step 4: Register for business licenses and permits.
Wherever applicable, you need to file for business license and permit. The permits and licenses will vary from one city or county to another, as well as the specific location of your business.
Step 5: Obtain business insurance.
Certain types of businesses will require insurance coverage before it can operate. Make sure you check the insurance that applies to your business so you can purchase it accordingly.
The local government in the state of Tennessee is divided into 92 counties and 349 municipalities. Two of the 92 counties in the state - Shelby and Knox - follow the home rule charters. On the other hand, 3 of the counties are recognized as service districts or are not independent based on the state law.
The municipalities in Tennessee consist of 342 cities and towns. There is no significant classification between a city and town in the state. Meanwhile, there are 3 metropolitan governments in the state. This type of government exercises the same function as the city or county under the state law.
In addition to the above local government units, the state of Tennessee is also made up of 14 independent school districts along with 469 special districts.
The city government is more recent than the formation of the county government. There are three types of governance: mayor-council, council-manager, and commission.See the main Tennessee Page for county links.