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Obtain Tennessee State Licenses Tennessee doesn't require nonprofits to get a statewide, general business license, but most nonprofits will need to register with the TN Department of Revenue for state tax accounts. Most Tennessee counties (and some cities) also require a local business license.
Membership Nonprofits In a membership nonprofit, individuals who support the nonprofit can join the organization as members and become part of the decision-making process. Nonprofit members can elect and vote for new board members and suggest changes to the nonprofit's bylaws.
To become a nonprofit corporation in Tennessee you must file Form SS-4418 - Nonprofit Corporation Charter with the State of Tennessee. In order to qualify for 501(c)(3) status, the organization's purpose must explicitly be limited to one or more of the following: Charitable. Religious.
Note: In the Tennessee Nonpro t Corporation Act, board members are referred to as directors; however, nonpro ts themselves usually use the term ?board members? when referring to members of the nonpro t governing board. Tennessee nonprofit corporations must have at least three board members.
Tennessee nonprofit corporations must have at least three board members. We recommend at least seven directors, when possible.
Nonprofits are exempt from sales tax.
How to Start a Nonprofit in Tennessee Name Your Organization. ... Recruit Incorporators and Initial Directors. ... Appoint a Registered Agent. ... Prepare and File Articles of Incorporation. ... File Initial Report. ... Obtain an Employer Identification Number (EIN) ... Store Nonprofit Records. ... Establish Initial Governing Documents and Policies.
Another difference between non-profit corporations and benefit corporations is that the stock certificates of the latter must be clearly marked with the words ?Benefit Corporation.? A non-profit company has no shareholders and therefore no stock certificates.