Everything you need to know about obtaining a s-corporation election in Memphis, Tennessee — requirements, costs, timeline, and application process.
IRS Form 2553 filing that lets an eligible LLC or C-Corp be taxed as a pass-through S-Corporation. Primarily a federal tax election, but most states require a matching filing and shareholders must meet strict eligibility rules.
Tennessee has no state income tax on wages but has high sales tax.
As a major metro area, Memphis typically charges higher fees for S-Corp Filing applications — expect to pay between $0 and $490.
Due to higher application volumes, processing times in Memphis may run 30-90 days (IRS acceptance letter) or longer. Consider submitting early.
Whether you're starting a new business or expanding into Memphis's Shelby County area, understanding the local permitting process is essential to operating legally and avoiding fines.
To obtain a s-corporation election in Memphis, TN, you will typically need to provide the following:
You may also need to complete registration with the Tennessee Secretary of State at sos.tn.gov.
Before applying, verify that your business location in Memphis's Shelby County is properly zoned for your intended use. Contact the Memphis planning department.
Collect all necessary paperwork including existing llc or c-corporation in good standing, ein for the entity, irs form 2553 signed by all shareholders. Having everything ready speeds up the process.
File your s-corporation election application with the Memphis city clerk or licensing department. Many Tennessee municipalities now accept online applications.
Submit payment of $0–$490 (typical range for Memphis). Fees may vary based on your business type and size.
Processing typically takes 30-90 days (IRS acceptance letter) in Memphis. As a major metro, expect potential delays during peak periods.
Navigating Tennessee's licensing requirements can be complex. Connect with a licensed business attorney who specializes in Memphis regulations.
Get Legal Help Today Or start your LLC online →The typical cost for a S-Corporation Election in Memphis ranges from $0 to $490. Fees vary based on your business type, size, and Memphis's specific municipal requirements. Contact the Memphis city clerk's office for exact current fees.
Processing time for a S-Corporation Election in Memphis is typically 30-90 days (IRS acceptance letter). Larger cities like Memphis may experience longer wait times due to higher application volumes.
To apply for a S-Corporation Election in Memphis, you'll generally need: Existing LLC or C-Corporation in good standing, EIN for the entity, IRS Form 2553 signed by all shareholders, Shareholder eligibility attestation (US residents, <100 owners), Matching state S-Corp election form, where required. You may also need to register with the Tennessee Secretary of State. Contact Memphis's licensing department for the complete checklist.
Yes, a S-Corporation Election in Memphis requires once (continues until revoked) renewal. Check with Memphis's licensing office for your specific renewal timeline.
You can apply for a S-Corporation Election through the Memphis city government offices, typically the city clerk or licensing department. For state-level requirements, visit sos.tn.gov. Many Tennessee cities now offer online application portals.
If you're applying for a s-corporation election, you may also need these permits: