Business Law Robert Berlin Business Law Robert Berlin

Businesses Operating in Tennessee: Beware the Tennessee Franchise and Excise Taxes

If you are a corporation, limited partnership (LP), limited liability company (LLC), or business trust. . .chartered, qualified, or registered in Tennessee or doing business in this state, then you must register for and pay franchise and excise taxes. This sometimes comes as a surprise to people who incorporate or create their entities in another state (like Delaware, Nevada, or Wyoming) but then do business or own property inside that entity in the State of Tennessee.

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Business Law Leigh Cowden Business Law Leigh Cowden

Do I Have to Get a Tennessee LLC if I Do Business in Tennessee and Have an LLC in Another State?

Anyone conducting or transacting business in the State of Tennessee, who has their business registered in another state (for example, someone who has a Wyoming LLC but who runs their business out of a Tennessee location), must register with the State of Tennessee for a Certificate of Authority. That does not mean they have to have a Tennessee LLC, but they will have to pay fees and taxes that could make conducting business in Tennessee more expensive than they realize.

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