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Bill > SB0037
TN SB0037
TN SB0037AN ACT to amend Tennessee Code Annotated, Title 48, relative to annual report fees.
summary
Introduced
01/06/2025
01/06/2025
In Committee
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, increases from $20 to $300 the annual report filing fee for for-profit business corporations and nonprofit corporations; changes from $50 per member to a $100 initial filing fee, and from $50 per member totaling not less than $300 or not more than $3,000, to a $300 annual report filing fee for limited liability corporations. - Amends TCA Title 48.
AI Summary
This bill increases annual report filing fees for various business entities in Tennessee. Specifically, for for-profit and nonprofit corporations, the annual report filing fee will increase from $20 to $300. For limited liability companies (LLCs), the fee structure changes from a per-member basis to a flat fee system. LLCs will now pay a $100 initial filing fee and a $300 annual filing fee, regardless of the number of members. Additionally, if an LLC is prohibited from transacting business in the state, they will still be required to pay the $300 annual fee. The bill also maintains an additional $20 filing fee for LLCs that change their registered office or registered agent. These changes aim to standardize and increase revenue from business entity annual reporting. The new fee structure will take effect on July 1, 2025, giving businesses advance notice of the upcoming fee increases.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Withdrawn. (on 01/30/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0037&ga=114 |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB0037.pdf |
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