Doing Business in Memphis

Memphis is the second largest city in Tennessee, with a population of over 652,000, and serves as the seat for Shelby County. Often referred to as Home of the Blues, the name reflects the important role the city played in the development and popularization of the music genre. There are 19,900 businesses located in Shelby County, employing over 429,000 residents. The city is home to the National Civil Rights Museum, Elvis Presley’s Graceland, Beale Street, Memphis Botanic Gardens, and the Orpheum Theatre.

Tennessee Business Incentives

The state offers a variety of incentives to attract new companies, retain existing ones, and capture the attention of growing corporations. These incentives are available to Memphis companies, making targeted machinery investments, creating new jobs, and more. A summary of the available tax credits and deductions includes the Standard Job Credit, Industrial Machinery Tax Credit, Job Tax Credit, and certain state sales and use tax exemptions.

Memphis Business Organizations

There are also several business organizations, chambers, and associations focused on the development of commerce in the area. These groups serve the diverse needs of businesses in different industries facing unique challenges. This includes the Greater Memphis Chamber, Tennessee Small Business Development Center, Back Business Association, Entrepreneur Network Center, Memphis IT Council, Downtown Memphis, and the Tennessee Minority Business Development Agency.

Map of Memphis, TN

Memphis Accounting Services

When a Memphis organization experiences a compliance challenge or financial reporting need, they turn to Calvetti Ferguson to help. Whether a start-up or established business, our firm can help with routine compliance issues to more complicated “once in a lifetime” events. The combination of practical experience combined with technical expertise allows team members to bring a fresh perspective to conventional challenges.

Below is a summary of the accounting, assurance, tax, and advisory (risk and transaction) offered to Memphis businesses, including:

• Benefit plan audits
• Financial statement audits
• Risk assessments
• M&A transaction advisory
• Quality of earnings reports
• SOC reporting
• State & local tax
• Tax planning & compliance
• Trust & estate planning
• Internal audits

Contact us

Calvetti Ferguson works with companies, private equity firms, and high-net-worth individuals nationwide. Regardless of the complexity of your compliance, assurance, advisory, or accounting needs, our team is ready to help. Please complete the form below, and we will follow up with you shortly.