There are a couple of different types of taxes that an LLC pays in Tennessee. First, there is the standard corporate annual report, which is due every April 1. In Tennessee, this is a minimum of $300, although the fee may be more if you have several members. In addition, an LLC is required to pay employee taxes, which go to both the state and federal governments.
Taxes That an LLC Pays in Tennessee
Second, Tennessee requires LLCs to be registered with the Department of Revenue. This is because an LLC that sells goods or services to customers is required to collect and pay sales tax. It is also required to submit periodic sales tax returns, which are due quarterly. Once registered, the company is taxed on all profits and losses.
Finally, LLCs in Tennessee must have a registered agent, a business license, and an operating agreement. When forming a Springfield dumpster rental, members are required to pay a registration fee. This fee varies depending on the number of members. You can pay this fee with a credit card, debit card, or e-check. In addition, LLCs must file annual reports. The majority of these fees are paid by the business owner.
In addition to the state and local taxes, LLCs must register with the Tennessee Department of Revenue and pay a franchise tax. You can file your franchise tax online or visit a local DOR office.