Tennessee Annual Report: Everything You Need to Know
The purpose of the Tennessee Annual Report is to keep the information held by the state up to date.3 min read
What Is a Tennessee Annual Report?
The purpose of the Tennessee Annual Report is to keep the information held by the state up to date. Every limited liability company in Tennessee needs to prepare and file taxation documents and annual reports. You will need to submit the following information in your report:
- LLC name
- Registered address
- Contact information
- Registered Agent information
- Secretary of State Control Number
- Mailing address
- Names of LLC managers
How to File a Tennessee Annual Report
There are different ways of filing your annual report in Tennessee. You can submit your report online and make the payment for the fee online using a credit or debit card. You can also send your completed form through the post to the following address:
Attn: Annual Report
6th Floor – Snodgrass Tower
312 Rosa L. Parks Avenue
Nashville, TN 37243
To file your annual report online, follow the below steps:
- Go on the Annual Report website, and enter the Secretary of State Control Number.
- Click on the Business Information Search button to find your company and fill out the captcha.
- Click “search.”
- Check that all the information on file is up to date, and click continue.
If you have to make changes, you can do so online. If you change the registered agent information, you are required to pay an amendment fee of $20. The following information can be updated online:
- Mailing address
- LLC managers
- Registered Agents
Once you have reviewed all the information and finished amending the details, click “continue” and sign the document file electronically. Fill out your title and check the “I certify” box. Enter your name and click “continue” to be taken to the payment page.
Tennessee Annual Report Filing Fees
Different filing fees apply to corporations of various sizes. The fees are listed below.
- If you have one to six members in your LLC, you will need to pay a flat fee of $300 for filing.
- For LLCs with more than six members, you pay the flat fee for the first six members, plus $50 for each additional member.
- Corporations and PCs in Tennessee have to pay a filing fee of $20.
- Non-profit organizations pay a filing fee of $5, and this applies to both domestic and international non-profits.
- Domestic LLPs pay $50 per each member — with a minimum $250 and capped at $2500 — as well as an additional fee of $20 for changing the Registered Agent.
Deadlines for Filing the Report
For LLCs, the filing deadline is the first day of the fourth month following the end of the 12-month fiscal year.
The fiscal year is determined by the LLC's accounting method. It is recommended that the Annual Report is filed as soon as possible to avoid penalties and late fees.
Penalties and Late Fees
Organizations in Tennessee benefit from a 60-day grace period. If you miss the deadline, you can still file it without any penalties. However, if you fail to file after the 60-day grace period, your business will automatically dissolve. Talk to a Tennessee Annual Report legal specialist to learn more.
You are likely to receive an Annual Report Filing reminder at the end of the LLC's fiscal year, which is generally December. The filing deadline is usually April 1.
The penalty fee for late filing for charities is $25 per calendar month.
Different Taxes and the Tennessee Annual Tax Report
When you update your Tennessee Annual Report, you can register for different taxes in the state that is related to your organization.
LLCs need to pay a franchise tax and excise tax. It is your responsibility to register your LLC in Tennessee for business tax with the Department of Revenue (DOR). There are different ways of registering for state business taxes: online or in person.
Franchise tax is calculated based on the revenues of your business generated in Tennessee, as well as the net worth of the entity.
If your LLC has employees, you will also need to pay employee taxes. If your LLC sells goods or services to customers in Tennessee, you need to collect and pay the sales tax for the transactions that took place in the state.
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