If you’re forming an llc in Tennessee, you’ll want to include the name of the company and the members. The name must end in “Licensed Liability Company,” “LLC,” or “L.L.C.” In addition, you’ll need to indicate whether your business is a member-managed or manager-managed LLC. Your registered agent‘s name and address must be listed on your articles of organization.
On this page, you’ll learn about the following:
Tennessee Articles Of Organization
LLC members are not required to be listed in tennessee articles of organization
As an llc, your name and address are not required to be listed in the articles of organization. According to the tennessee llc Act, “person” refers to any type of business or legal entity. The life of an LLC is unlimited. Thus, the articles of organization cannot set a limited life span for your LLC. In addition, it is not necessary to list the names of LLC members if you are a professional company.
While llc members are not usually personally liable for business obligations, some may have personal liability. For example, an LLC can identify specific members who have personal liability. In such a case, you must list those members in the TN LLC Articles of Organization. A professional LLC must also notify the state of its status as a professional organization. If you want to protect other LLC assets, you can form a Series LLC.
Besides the articles of organization, you should also create an operating agreement between the members of your LLC. Operating agreements are legal documents between the members of an LLC, and they will define the roles and responsibilities of each member. They will help you to structure financial and functional decisions and help you make the most of your limited liability status. However, you should not rely solely on written agreements for legal advice or representation. Remember, using these documents does not create an attorney-client relationship.
To form an LLC in Tennessee, you must file your tennessee articles of organization with the Secretary of State. The filing fee is $50 per member. Articles of organization must state the name of the LLC, registered agent, organizers, and number of members. You can add optional provisions as well. In addition, you must list the registered agent, the registered office, and the members of the LLC. This information will help the Secretary determine whether your LLC is a true business entity.
The name of your LLC must include the phrase “limited liability company” or one of its abbreviations. Your LLC’s name cannot imply illegal purposes. Moreover, it must be distinguishable from other businesses existing in Tennessee. If you are unsure of the availability of a name, visit the website of the Tennessee Secretary of State to perform a name availability search. The secretary’s office also has online resources that will help you determine whether or not a name is available for your LLC.
LLC name must end with “Licensed Liability Company,” “LLC” or “L.L.C.”
If you choose an LLC, the name must end with “L.L.C.” in Tennessee. This is not the case in other states. In Tennessee, an llc name must be shortened to “LLC” if it is not already. Tennessee has a unique law that requires a name to end with “LLC” or “Licensed Limited Liability Company.”
A single-member LLC does not have to pay taxes. Its owners pay self-employment taxes on their income. As an S corporation, it is not subject to corporate income tax. However, the owners of an LLC are required to pay self-employment tax on the profits they earn. This tax is due to the fact that the business owners are paid regular wages and must report their income as self-employment. The same is true for a multi-member LLC.
LLC must be a non-profit or professional LLC
A limited liability company, or LLC, is a legal business entity that is governed by the laws of Tennessee. Its owners have the same protections as a corporation, but are not personally liable for its obligations. Therefore, forming an LLC in Tennessee is a wise investment for the long-term health of your business. By forming an LLC in Tennessee, you will be protected from the risk of personal liability and can protect the other assets of the business.
In Tennessee, an LLC’s Articles of Organization must include information on its purpose, its management structure, the number of members as of the filing date, and the planned dissolution date. An LLC is required to file an annual report every four months. If the LLC fails to file its annual report, it may be dissolved or its charter revoked. In the event that the articles of organization are filed late, the owners or managers of the business may face liability.
If you’re starting a business, the articles of organization should be filed with the secretary of state. Once the secretary of state has approved the articles of organization, your LLC will become a legal business entity. Then, you can obtain an EIN, obtain business licenses, and open a business bank account. You’ll also need to create an operating agreement that outlines the business practices of the LLC.
In Tennessee, you can choose whether your company is a nonprofit or a professional LLC. The articles of organization also must specify the registered agent and the name of the business. The registered agent must be a physical address, not a PO box. You can delay the effective date by 90 days if you want. Moreover, Tennessee allows a director-managed LLC. A director-managed LLC is structured like a corporation and is managed by the director.
Once you’ve decided to form an LLC, you need to file your tennessee llc articles of organization with the Secretary of State. You can file your articles of organization online, via mail, or in person. Generally, you can file your articles online, but the fees are higher if you plan to have more than six members. Additionally, you need to get the consent of another Tennessee business if you’d like to use the same name.
LLC must be a member-managed or manager-managed LLC
ATN LLC must have a written operating agreement and Articles of Organization declaring whether it will be a member-managed or manager managed entity. The Operating Agreement should state whether the LLC is a member-managed or a manager-managed entity, and should outline how meetings are conducted and major decisions are made. The articles of organization also must be signed by the organizer (this may be a single individual or a partnership).
The articles of organization for a tennessee llc should list the number of members and the duration of the entity (most are perpetual). The principal address must be a street address, but can be a PO box. Additionally, an LLC in Tennessee must appoint a registered agent, which can be a person or company who lives at the address. However, if you don’t specify a registered agent, Tennessee assumes that the LLC is a single-member entity.
When deciding whether to create an LLC in Tennessee, the first question to ask is: What kind of management structure will you have? The answer to that depends on the nature of your business. If you plan to hire management staff, consider hiring one in Tennessee. Unlike members, managers are not owners and are paid like an employee. Thus, the salary and benefits of a manager are separate from the ownership status of a member-managed company.
A member-managed LLC is easier to manage. This type of entity allows you to delegate management responsibilities to a professional manager, while allowing you to remain passive. Manager-managed LLCs are easier to maintain and operate, as they tend to be less expensive to run. In addition, it allows you to run a large business faster and easier without the hassles of a management team.
In addition to choosing between manager-managed and member-managed structures, the articles of organization of a Tennessee LLC must specify the nature of management and ownership. While members-managed LLCs are easier to manage, they are still not suitable for all types of businesses. If you want to avoid the hassle of dealing with a complicated legal document, it’s best to hire an expert in the field of operations.