Effective January 1, For Profit Benefit Corporations can form as an entity with the Division of Business Services in Tennessee. A Benefit Corporation must create or pursue a general public benefit or a specific public benefit as outlined in its articles of incorporation. For Profit Benefit Corporations still require the filing of an annual report with the division and in addition require an annual benefit report for shareholders and the public.
http://sos.tn.gov/news/profit-benefit-corporation-formations-now-available
Tennessee – For Profit Benefit Corporations Now Available