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Tennessee Department of Revenue walks new business owners through registration, structure and permits
Summary
Tennessee Department of Revenue presenters outlined the practical steps new business owners should take — from choosing an entity type and start date to registering with the secretary of state, obtaining local business licenses, and setting up state tax accounts online via TenTap.
Katie Julian, a member of the taxpayer services, taxpayer education team with the Tennessee Department of Revenue, led a three-hour online workshop for prospective and newly formed businesses that laid out the administrative steps entrepreneurs must take when starting in Tennessee.
The Department gave a checklist of early tasks: select and verify a business name, decide an entity type, pick an effective business start date, obtain any necessary federal employer identification numbers (EINs), select a NAICS code, and determine a fiscal year. "My name is Katie Julian, and I'm a member of the taxpayer services, taxpayer education team with the Tennessee Department of Revenue," Julian said while introducing the session and the department's resources.
Why it matters: those early decisions determine what filings and taxes a business will face. For example, corporations, LLCs…
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