Business Law in Tennessee

Tennessee LLC formation costs $300 per member (minimum $300) with an annual $300 minimum franchise and excise tax. Attorney fees range $1,000-$2,500. Tennessee has a 6.5% franchise and excise tax on business income. Nashville's healthcare industry (HCA Healthcare, Community Health Systems) is the second largest non-government employer behind automobiles. Tennessee's right-to-work status and absence of personal income tax attract significant business relocation. The state offers FastTrack grants and other incentives through the Tennessee Department of Economic Development.