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Category: LLCs, Corporations, and Partnerships
How to Form an LLC or Corporation in Tennessee: A Step-by-Step Guide
Forming a Limited Liability Company (LLC) or Corporation in Tennessee can be a straightforward process if you follow the necessary steps and understand the legal requirements. This guide will help you navigate the formation process, whether you’re starting a small business or a more complex venture. Step 1: Choose Your Business Structure The first decision…
What EXACTLY is an LLC, Anyway?
If you’re starting a business or are generally aware of business names, you’ve no doubt heard and seen the acronym LLC before. But what is it? And if you’re starting a business, is this particular entity option right for you? To start, LLC stands for Limited Liability Company, and it is what it says it…
FinCen and Its Requirements on Small Business
Recently, FinCEN has put forward new disclosure requirements that particularly impact new small businesses in the U.S. These requirements are part of a broader effort to increase transparency in business ownership and financial activities, aiming to curb money laundering and the financing of terrorism. Let’s break down what these requirements entail, their significance for new…
The Crucial Elements of a SaaS Terms and Conditions
In the fast-paced world of Software as a Service (SaaS), the Terms and Conditions (Terms) isn’t just a legal requirement; it’s the bedrock upon which customer relationships are built. A well-drafted Terms provides clarity, sets expectations, and establishes the legal framework for your service. Conversely, a poorly constructed Terms can lead to confusion, legal challenges,…
A Comprehensive Guide to Selling Your Business: Navigating the Legal Waters
Selling a business is no small feat. It’s a complex process filled with legal intricacies, financial considerations, and strategic decisions. As a sophisticated business owner, you’re already aware that the devil is in the details, especially when it comes to legal matters. This guide aims to walk you through the essential legal considerations and steps…
Starting a New Business for the First Time? Here are the Nuts and Bolts!
Absolutely, diving into the world of business can seem overwhelming, but let’s break it down in a friendly and approachable way: Q: I want to start a business, but I’m not sure where to begin. What are the first steps I should take? A: First off, kudos to you for taking the exciting step of…
How Do I Value My Business?
You’ve done well. Your business has grown due to your diligence and hard work. Now it’s time to move on to other endeavors and life pursuits. But what now? How do you sell a business? How do you value a business? Besides the obvious requirement of finding a buyer to sell to, you want to determine…
Benefits to Forming an LLC in Tennessee
Forming a Limited Liability Company (LLC) in Tennessee can offer several advantages to entrepreneurs and business owners. Here are some of the key benefits to forming an LLC in Tennessee Limited Liability Protection: One of the primary benefits of an LLC is that it provides limited liability protection to its members (owners). This means that…
Incorporating Your Business in Tennessee
To incorporate a business in Tennessee, you need to follow a specific set of steps and meet various legal requirements. Here’s an overview of the incorporation process: Choose a Business Name: Select a unique and distinguishable name for your corporation. You can check the availability of your chosen name on the Tennessee Secretary of State’s…
Electing S Status for Your Corporation
Electing S corporation (S corp) status is a tax-related decision that certain eligible businesses can make in the United States. S corp status provides several tax advantages, but it also comes with specific requirements and restrictions. Here’s an overview of the process and considerations for electing S status: Eligibility Requirements: To qualify for S corporation…
