Are you ready to dive in to starting your own business?
This week we thought we'd offer some important information for those folks out there who are thinking of delving into the world of entrepreneurship!
Here's what you will need to do in the state of Tennessee to start your own business...
Small businesses are the backbone of Tennessee's state economy.
Many well-known businesses began with the steps of registering their business, dreaming big, and working hard. Tennessee is known for its right-to-work environment, educated workforce, and technology resources. The state has a reasonable cost of living, and does not have a personal state income tax or a state property tax.
Anyone wishing to form or register a business that has not previously been registered with the
Tennessee Secretary of State must first obtain a
Certificate of Authority to transact business in Tennessee.
For tax purposes, you can register your business online with the
Tennessee Department of Revenue using their
Application for Registration . Other application needs depend on your business entity and your business activity. Possible registration needs include:
Sales and Use Tax : If your business will be involved in manufacturing, selling, distributing, leasing or renting tangible personal property, or providing taxable services, you must hold a
Certificate of Registration in order to conduct business in Tennessee.
Franchise, Excise Tax : Any person doing business in Tennessee must register with the
Department of Revenue by completing and filing the
Franchise, Excise Application for Registration form with the Department within 15 days after the date the person becomes subject to the tax.
Business Tax : Every person wishing to start or engage in business must contact the office of the county clerk and/or the city tax collector where the business will be domiciled, to register for payment of the appropriate business tax.
Other types of taxes your business might be required to register for include alcoholic beverage, gross receipts, professional privileges, motor fuel, tobacco and solid waste taxes. The
Tennessee Department of Revenue offers a toll free tax information line at 1-800-342-1003.
Are you ready to dive in to starting your own business?
This week we thought we'd offer some important information for those folks out there who are thinking of delving into the world of entrepreneurship!
Here's what you will need to do in the state of Tennessee to start your own business...
Small businesses are the backbone of Tennessee's state economy.
Many well-known businesses began with the steps of registering their business, dreaming big, and working hard. Tennessee is known for its right-to-work environment, educated workforce, and technology resources. The state has a reasonable cost of living, and does not have a personal state income tax or a state property tax.
Anyone wishing to form or register a business that has not previously been registered with the Tennessee Secretary of State must first obtain a Certificate of Authority to transact business in Tennessee.
For tax purposes, you can register your business online with the Tennessee Department of Revenue using their Application for Registration . Other application needs depend on your business entity and your business activity. Possible registration needs include:
Sales and Use Tax : If your business will be involved in manufacturing, selling, distributing, leasing or renting tangible personal property, or providing taxable services, you must hold a Certificate of Registration in order to conduct business in Tennessee.
Franchise, Excise Tax : Any person doing business in Tennessee must register with the Department of Revenue by completing and filing the Franchise, Excise Application for Registration form with the Department within 15 days after the date the person becomes subject to the tax.
Business Tax : Every person wishing to start or engage in business must contact the office of the county clerk and/or the city tax collector where the business will be domiciled, to register for payment of the appropriate business tax.
Other types of taxes your business might be required to register for include alcoholic beverage, gross receipts, professional privileges, motor fuel, tobacco and solid waste taxes. The Tennessee Department of Revenue offers a toll free tax information line at 1-800-342-1003.