How Real Estate Investors in Tennessee Avoid Franchise and Excise Taxes: The FONCE Exemption
Your first thought when reading that headline might have been, “Why do I want to avoid Franchise and Excise Taxes?” For more information on these sometimes very expensive taxes, read our article HERE. Anyone who owns an LLC in Tennessee is liable for...
The Difference Between an LLC and a PLLC (and Whether a REALTOR® Should Ever Have a PLLC)
LLC is an acronym for a business entity otherwise known as a Limited Liability Company, and the acronym PLLC is short for Professional Limited Liability Company. Both of these entity types are creatures of state law, originally created by the legislature of the state...
Businesses Operating in Tennessee: Beware the Tennessee Franchise & Excise Taxes
If you are a corporation, limited partnership (LP), limited liability company (LLC), or business trust. . .chartered, qualified, or registered in Tennessee or doing business in this state, then you must register for and pay franchise and excise taxes. This sometimes...
Do I Have to Get a Tennessee LLC if I Do Business in Tennessee and Have an LLC in Another State?
Anyone conducting or transacting business in the State of Tennessee, who has their business registered in another state (for example, someone who has a Wyoming LLC but who runs their business out of a Tennessee location), must register with the State of Tennessee for...