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Before you open your business, determine which of the numerous local, state and federal regulations apply to you. Avoid the temptation to ignore regulatory details. Doing so may save time in the short term, but could become an obstacle as your business grows.
Starting your new Memphis business
Below is a list of the most common requirements that affect small / new businesses. The list is by no means exhaustive, as regulations vary by industry. Consult the list below for a solid start to meeting your regulatory requirements, and then carefully investigate the additional regulations that affect your industry.
Business OrganizationThere are many forms of legal structure you may choose for your business. The most common structures are Sole Proprietorships, General and Limited Partnerships, C and S Corporations, and Limited Liability Companies. Each legal structure offers organizational options, which are appropriate for different personal situations, and which affect tax and liability issues. We suggest you research each legal structure thoroughly, and consult a tax accountant and/or attorney prior to making your decision.
Memphis Business Name Businesses that use a name other than the owner's must register the fictitious name with the county as required by the Trade Name Registration Act. Check for the appropriate name of the Trade Name Registration Act in your area. This does not apply to corporations doing business under their corporate name or to those practicing any profession under a partnership name.
Trademarks Trademarks are names or symbols used in any commerce that is subject to regulation by state government or the U.S. Congress.
Starting a business in Memphis
Called the "Volunteer State," Tennessee became the 16th state of the Union in 1796. It was the first territory admitted as a state under the federal Constitution. Before statehood, it was known as the Territory South of the River Ohio. The name Tennessee is derived from the name of a Cherokee village, Tanasi. Today, the capital, Nashville, is known as a center for country music. Memphis, the largest city in the state, is the place where Elvis Presley first began his legendary musical career. The state flower is the iris.
Incorporation
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