Federal Taxes & Compliance for Tennessee Businesses

Once your business is formed, you’re responsible for filing the correct tax returns and keeping accurate records throughout the year.

What You Must File

· Single-Member LLC: Reported on your personal return

· Partnership: Files Form 1065 + K-1s due March 15

· S Corporation: Files Form 1120-S + K-1s due March 15

· C Corporation: Files Form 1120

Payroll Requirements

If you own an S Corp or C Corp, you must be paid through payroll — not just through owner draws.

Expense Tracking

Good bookkeeping prevents IRS issues and keeps your business healthy.

Keep:

· Receipts

· Separate bank accounts

· Organized categories

Mileage Requirements

The IRS requires a mileage log. Estimates aren’t accepted. Apps like MileageIQ make this easier.

If you’re starting a business in Tennessee and want clear guidance, our team is here to help. We offer in-person support, transparent pricing, and full-service tax, payroll, and bookkeeping right here in Mt. Juliet.

Up Next: Simple bookkeeping habits to keep you compliant