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Incorporating a business is essential for entrepreneurs looking to establish their venture as a separate legal entity. By filing Charter for Profit Corporation, business owners in Tennessee can enjoy myriad benefits, such as limited liability, tax advantages, and increased credibility. However, the incorporation process may seem daunting for many, especially those not well-versed in the legal intricacies of their state. This article is a comprehensive guide on how to file Tennessee Charter for Profit Corporation, taking you through the necessary steps and requirements to establish your corporation successfully.
Whether you are a startup founder or a seasoned business owner, understanding the process of filing Charter for Profit Corporation in Tennessee, popularly known as The Volunteer State, is crucial for the seamless formation of your corporation. The following sections will outline the paperwork, fees, and registration procedures specific to Tennessee, along with tips on navigating potential roadblocks and ensuring your application is approved. Let’s dive in and explore the ins and outs of incorporating your business in Tennessee.
On this page, you’ll learn about the following:
What is Charter for Profit Corporation in Tennessee?
The Charter for Profit Corporation is a legal document required to file with the state government to legalize the creation of your corporation. In other words, filing these documents with the Tennessee Secretary of State ensures the formation of the corporation in Tennessee officially. The Charter for Profit Corporation is similar to filing the Tennessee LLC Articles of Organization while filing an LLC in Tennessee.
Tennessee, also known as The Volunteer State, has some rules when it comes to file the Charter for Profit Corporation. We shared the step-by-step process here to file the incorporation document with the Tennessee SOS. Checking with the SOS is recommended for more information.
It is always wise to consult a legal professional before you file your company under the Tennessee SOS. FIling process can be easy, but it is sensitive. If you miss anything, it can totally stope the filing process.
– LLCBuddy Editorial Team
How to File Tennessee Charter for Profit Corporation
You can file the Charter for Profit Corporation in several ways based on the state you are willing to start your corporation. In Tennessee, you can file it in four methods that are e-filing, by email, by mail and in-person. The details are similar to the details you need when forming an LLC. Here are the details you must submit while filing the documents-
Step 1: Get the Form and Enter the Details
The first step is to get the Charter for Profit Corporation form from the Tennessee Secretary of State. You will get both offline and online forms on the site, as available. You must pay the $100 for online and by mail filing when submitting the form. Following are the details you must add to your incorporation form-
Name of the Entity
The first thing you need to do is submit your company’s name. Make sure to mention the exact name of the company that you decided on. Like the LLC naming guidelines, you must also follow the Tennessee corporation naming requirements too. There are a few points to note when you name your company. They are,
- You cannot have a name used by other companies or businesses.
- You cannot have any name that is misleading or the same as government organizations.
- Banks, Insurance, Insurer, or any such names cannot be used as they reflect the financial organization.
- You must add terms like corporation, limited, company, incorporated, or incorporation. You can also add abbreviations like co., ltd., inc., and corp instead of the above terms.
Address of the Corporation
The next section of the form is to provide your main address. It is necessary to have a physical street address in Tennessee. For those running an online business, you must provide any address in the state (including your home address) where you will receive all the business and legal documents and mail. While sharing your address, make sure not to use abbreviations, such as N.Y. for New York or L.A. for Los Angeles.
Tennessee Registered Agent
The next point is to provide information about the Registered Agent. The Tennessee Registered Agent is an individual or business entity that is responsible for receiving all the legal and official documents on behalf of the company. They must be aged above 18 years and have eligibility to conduct business in the state. The Registered Agent should be legit and experienced because, in case of any lawsuit, you need an expert to handle your issues. In most cases, the Registered Agent’s official address is the company’s official mailing address. If you form an LLC, hiring a registered agent is the most crucial step in the process.
Shares and Stocks
The next important information you must provide is about the stocks and shares. While filing the Charter for Profit Corporation, you must mention a minimum of one share. In Tennessee, to start a corporation, you need at least Three director(s) initially. When filing the incorporation documents, you must provide the share of directors in the corporation. It decides the ownership of the company.
If you amend Tennessee Charter for Profit Corporation in the future, you will not be able to change the initial directors. You might need an additional form to change the initial directors’ details. You must check with the Tennessee SOS while filing the Charter for Profit Corporation amendment.
Additional Documents
You might need additional documents to submit along with the incorporation documents. In Tennessee, you can attach a cover letter with the documents as an additional document. if you are willing to start a foreign corporation in Tennessee, then you must add one document along with the Charter for Profit Corporation. Foreign corporations in Tennessee must submit the Tennessee Certificate of Existence along with the incorporation documents.
Signature
Finally, the signature of the directors and shareholders are required on the form. You can have more than one share and director. All your initial directors must submit their official signature while filing the corporation in Tennessee. Get their signatures to file the Charter for Profit Corporation.
Step 2: Submit the Charter for Profit Corporation in Tennessee
Once you are done filling up the form, now it is time for you to submit it. The form can be submitted in four methods that are e-filing, by email, by mail and in-person. Checking with a legal professional or a formation service while filing your corporation is recommended. It is sensitive, and one mistake can stop the entire filing process immediately.
- Online filing: Create an account/Log in to the SOS site, get the e-form, fill it, and submit online. Or get the online PDF, fill it up and upload it back on the site.
- Offline filing: Send the form by mail to or drop it off in person at Corporate Filings, 312 Rosa L. Parks Avenue, 6th Floor, William R. Snodgrass Tower, Nashville, Tennessee 37243
Cost of Filing the Charter for Profit Corporation in Tennessee
The cost of filing the Charter for Profit Corporation in Tennessee is an important aspect to consider when starting a new business. This one-time fee is necessary for officially registering your corporation with the Secretary of State and can vary depending on the specific requirements and regulations of Tennessee. In some cases, additional fees may be required for expedited processing or other optional services. It is crucial for entrepreneurs to budget for this expense and research the specific costs associated with their Tennessee in order to ensure a smooth and successful incorporation process. To file the Charter for Profit Corporation in Tennessee, you must pay a filing fee. The filing fee is $100 for online and by mail filing.
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Conclusion
In conclusion, the process of filing Tennessee Charter for Profit Corporation is a crucial step for businesses looking to establish their presence in the state. This legal document serves as the foundation of the company’s structure and outlines essential information, such as the company’s name, purpose, and management team. To ensure a smooth and successful filing process, it is vital for business owners to familiarize themselves with the State of Tennessee’s requirements, adhere to the applicable laws and regulations, and provide accurate and complete information in the Charter for Profit Corporation.