Pick the entity that protects what you're building.
Forming the right business entity in Memphis is the first place new owners save or spend real money. The wrong entity type costs you in taxes, the wrong Operating Agreement costs you when a co-founder leaves, and a sloppy filing costs you when a creditor asks whether the corporate veil should hold. These 10 Memphis firms handle entity selection, formation, Operating Agreements, Bylaws, S-corp elections, and post-formation compliance for everything from a single-member Bluff City LLC to a multi-state holding company.
These 10 Memphis firms cover business formation for everything from one-off projects to ongoing outside-counsel relationships. Most offer flat-fee work for routine matters and hourly billing or retainers for complex engagements. Use this guide as a starting shortlist, then call at least two firms before you sign anything.
How we picked these 10: We reviewed Best Lawyers, Super Lawyers, Chambers USA, Avvo, and Maryland or Tennessee bar association recognition; published court records and decisions; firm websites; and client review patterns across Google, Avvo, and Justia. Firms that appeared consistently across independent sources made the list. We do not accept payment for placement, and we do not write sponsored reviews. More on our methodology →
Practice focus: Business formation, M&A, corporate governance, healthcare
Ranked Memphis Tier 1 in Business Organizations (including LLCs and Partnerships) by U.S. News-Best Lawyers Best Law Firms. Deep bench for complex multi-entity structures, joint ventures, and regulated industries.
Practice focus: Corporate, securities, healthcare, M&A
Memphis Tier 1 firm for Business Organizations. Strong for emerging companies, healthcare entities, and growth-stage businesses that may eventually take on outside capital.
Practice focus: Business formation, M&A, financial services, regulated industries
Full-service regional firm with strong corporate practice. Handles formation for operating businesses, holding companies, and private investment vehicles.
Practice focus: Business formation, healthcare, real estate, tax-driven entity structures
Strong tax + entity formation crossover practice. Useful when the entity choice is driven primarily by tax optimization.
Practice focus: Business formation, corporate governance, family-business succession
Strong for family-owned businesses and closely-held companies where governance disputes are a predictable risk.
Practice focus: Business formation, tax planning, estate planning + business succession
Particularly strong for owners thinking about succession, holding-company structures, and estate-tax-driven entity choice.
Practice focus: LLC and corporate formation, Operating Agreements, start-up counsel
Founder-friendly small-business practice. Strong choice for first-time Memphis entrepreneurs who want a fixed fee and direct attorney access.
Practice focus: Business formation, contracts, small-business general counsel
Decades of focused small and mid-size business practice. Reasonable fees and direct partner access.
Practice focus: Business formation, estate planning, probate, elder law
Useful when business formation needs to coordinate with personal estate planning, which is common for owner-operators planning succession from day one.
Practice focus: LLC and corporate formation, employment agreements, business acquisitions
Tight focus on small operating businesses. Strong for one-and-done formation work plus first employment agreements.
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Request Free Consultation →Most Memphis business formation work is flat fee. Simple single-member LLC formation runs $500-$1,200 (including Tennessee Secretary of State filing fee, Operating Agreement, EIN, S-corp election). Multi-member LLCs with custom Operating Agreements run $1,500-$3,500. Tennessee C-corp or S-corp formation with Bylaws, shareholder agreements, and stock issuance runs $2,000-$5,000. Outside general counsel retainers for small Memphis businesses typically run $750-$2,500/month.
Tennessee Secretary of State processes LLC filings online in 1-3 business days. Most Memphis firms can have your entity formed, Operating Agreement drafted, EIN obtained, and S-corp election filed within 7-14 days. Custom multi-member Operating Agreements or shareholder agreements with negotiation can take 3-6 weeks.
Tennessee charges an LLC filing fee of $50 per member (minimum $300, maximum $3,000) plus an annual report fee. Tennessee also imposes a franchise tax (0.25% of net worth) and excise tax (6.5% of net earnings) that apply to most LLCs and corporations. The Tennessee Revised LLC Act (Title 48, Chapters 249-249C) governs most modern Memphis LLCs. A Memphis attorney will know which chapter governs your entity and what that means for your governance documents.
The Shelby County court system, the local administrative culture, and the unwritten rules of practice all matter. A firm that knows the local courthouse, the local clerks, and the local opposing counsel has an advantage on every motion, every deposition, and every settlement conversation. That is most of why this guide focuses on Memphis-based or Memphis-experienced firms rather than national chains with thin local presence.
The legal directory you find on Google has hundreds of Memphis firms claiming business formation experience. Most are competent. A few are problematic. The patterns to avoid:
Guaranteed outcomes. No ethical attorney can guarantee a result. If a firm promises a specific recovery, settlement number, or trial verdict, walk away.
The disappearing partner. You meet a senior partner at intake, then never speak to them again. The matter is handled by an unsupervised junior or a paralegal. Ask in writing who will be your day-to-day attorney.
Pressure to sign immediately. Reputable firms give you the engagement letter in writing, time to read it, and the option to take it home. High-pressure intake is almost always a sign of a volume shop, not a craftsperson's practice.
No verifiable track record. The firm should be able to point to verdicts, settlements, peer rankings, bar association recognition, or representative matters. Vague claims like "we have helped thousands of clients" are marketing copy. Specific numbers, named cases, and third-party rankings are evidence.
Vague fee terms. Every legitimate Memphis lawyer will give you a written engagement letter with the fee structure, what is covered, what triggers extra charges, and what happens if you fire them. If you cannot get the fee in writing, that is your answer.
Most Memphis firms on this list offer a free initial consultation. Use it. Bring a list of questions and write down the answers. Compare across at least two firms before you sign.
An LLC is a legal entity. An S-corp is a tax election. Most Memphis small businesses form an LLC and then elect S-corp tax treatment once profits exceed roughly $40,000-$60,000/year, when self-employment tax savings outweigh added payroll and filing costs. Your accountant and attorney should make this call together.
Tennessee charges a $50 per member filing fee (minimum $300, maximum $3,000) plus an annual report fee. Attorney fees for a simple single-member LLC formation are typically $500-$1,200 flat. Multi-member with a custom Operating Agreement: $1,500-$3,500.
Tennessee doesn't require it, but yes, you want one. A single-member Operating Agreement strengthens limited liability protection, helps banks open accounts, and is required by most institutional investors and lenders later.
Tennessee imposes a franchise tax (0.25% of net worth) and excise tax (6.5% of net earnings) on most LLCs and corporations doing business in the state. Single-member LLCs disregarded for federal income tax may still owe these state-level taxes. A Memphis tax attorney should confirm your exposure before you elect.
Yes, the Tennessee Secretary of State site accepts DIY filings. But the filing is only step one. The Operating Agreement, EIN, S-corp election, registered agent setup, banking resolutions, and governance docs are where most do-it-yourselfers leave money and protection on the table.
Yes. Every Tennessee LLC must have a registered agent with a physical Tennessee address available during business hours to receive lawsuits and state notices. Most Memphis attorneys offer registered agent service for $100-$300/year.
Online filings are typically processed in 1-3 business days. Paper filings take 5-10 business days. Most Memphis attorneys can have your entity fully formed (Operating Agreement, EIN, bank-ready docs) within 7-14 days.
If your business operates only in Tennessee, form a Tennessee LLC. Forming in Delaware just means you also have to register as a foreign entity in Tennessee, doubling your filing fees with no benefit. Delaware is worth it when you're raising institutional capital or planning interstate operations.
More from LawFirmSquare on this topic: the full LLC / Business Formation guide, all Memphis law firms by need, request a free consultation, what lawyers actually cost, and how to compare firms.
One last thing. Choosing a lawyer is personal. Read the reviews. Call two or three firms before you sign. Ask each one: How many matters like mine have you handled in the last three years? The answer tells you everything. — The LawFirmSquare team