Texas Business Law LLC. Once you decide to start a business, the first step that you should always take is to select the proper business structure. The one that you choose will end up influencing not only the name of your business, but also all of the steps that are necessary to start it.
Despite the fact that there are multiple options available for business structures, one of the most popular ones is an LLC, or limited liability company, which is essentially a mix of a corporation and a sole proprietorship. The steps to starting something like this will depend on the laws of the state in which you currently reside; however, when it comes to the state of Texas, some of the most basic facts are rather easy to understand.
Here are three of the best facts in regards to starting an LLC in the state of Texas to consider making note of.
*First and foremost, perhaps one of the best facts regarding starting an LLC in Texas involves handling your state taxes. More specifically, you will need to contact the Texas Comptroller of Public Accounts when it comes to your state business taxes. This is because you will more than likely end up being responsible for some sort of state franchise tax, which is something that a majority of LLCs in Texas are subject to.
*Another of the best facts regarding starting an LLC in Texas involves business permits and licenses. Depending on what type of business that you’re running, as well as where it will be located, you may end up needing to obtain a business permit or license for your LLC. In order to ensure that you are fully complying with all local and state requirements, take the time to check with all government agencies in your area of residence regarding the requirements for your specific type of business.
*Texas Business Law LLC. One other fact regarding starting an LLC in Texas involves filing fees. More specifically, in order to file formation documents for your LLC in Texas, you will need to pay a fee of $300, as well as an additional $40 in order to reserve the name of your business should you decide to take this step prior to filing anything.