The cost of a business license in my location(city and county) is $22.00 in Bedford County(Shelbyville, TN). The requirements we must meet to obtain a license include:
Approval of Codes Dept. located in City Hall. Annual renewal fees are based on gross. If we are to ever close our business we must file a report within 15 days of closing.
Our company will be an LLC(Limited Liability Co.). LLC is a business structure allowed by state statue. They are popular because,similiar to a corporation, owners have limited personal liability for the debts and actions of the LLC. The benefits of pass-through taxation and flexibility made an LLC a better choice for me.This is why I want my business to be an LLC and also because I did not want to do a partnership.
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