Tennessee Taxes: What Every Business Owner Must Know
- Samantha van de Kamp
- 4 days ago
- 1 min read
Tennessee has its own tax system, and understanding it early will help you avoid penalties and last-minute surprises.
Here are the big ones:
Franchise & Excise Tax
Required for all LLCs and corporations.
· Minimum tax: $100
· Due April 15
· Can be extended with a payment equal to last year’s liability
Business License
Required once your income reaches $3,000.
· Minimal Activity License: $3,000–$100,000
· Standard License: Over $100,000
· Fee: $15 per jurisdiction
Annual LLC Renewal
LLCs must pay a $300 annual state fee. If you miss the renewal and July passes, the state may dissolve your business — and someone else can take your business name.
Sales Tax
If you sell retail goods or certain services, you must collect and remit sales tax through TNTAP.
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.
