Veteran owned LLCs in Texas

When forming a Texas LLC or using a Texas LLC to operate a business, veterans are entitled to a couple of benefits: (1) no filing fee (or refund of filing fee) and (2) exempt from paying franchise taxes for up to 5 years.Does Texas waive the LLC filing fee for a veteran-owned LLC?A new veteran-owned business (formed on or after …

How to convert a sole proprietorship to an LLC

When your business is just starting, operating as a sole proprietor often makes sense. But as the business grows, switching from a sole proprietorship to LLC is a wise choice and, thankfully, a simple one to make. Keep reading to learn how to convert a sole proprietorship to a Texas LLC.Sole proprietorship vs. LLC: What’s the difference?It can be hard …

Annual Costs for a Texas LLC

Unlike almost every other state, there are no annual fees to keep an LLC active in Texas. There is no filing fee for the required annual report. Learn more about the initial costs to form a Texas LLC.Potential annual costs to maintain an LLC in TexasAny business is going to have expenses associated with doing business. Some costs could be considered …

What is an EIN?

An Employer Identification Number or “EIN” is a unique nine-digit number identifying your business for federal tax purposes. An EIN is like a Social Security Number for your business. An EIN is sometimes called an FEIN or TIN (these are abbreviations of Federal Employer Identification Number and Tax Identification Number, respectively). This article touches on a few FAQs, you can learn …

Foreign LLC vs Domestic LLC

If you are conducting business with an LLC in more than one state, you may need register in each. We often use the words “domestic LLC” and/or “foreign LLC” when describing LLCs that do business in multiple states. Domestic LLCs and Foreign LLCs – what’s the difference? The state in which you first establish your LLC and begin doing business …

When to file a foreign LLC in Texas

If you have an LLC established outside of Texas and the LLC does business in Texas, you must file an “Application to Register Foreign LLC” (TXSOS Form 304) with the Texas Secretary of State within 90 days of the first business transaction in Texas. You can use the following link if you’d prefer to have our attorney prepare and file the …

What is a foreign LLC?

Limited liability companies (LLCs) doing business in states other than the one where they are formed may need to apply for foreign LLC status in those states. Suppose your LLC conducts business outside the state in which it was first created. In that case, you may need to register it as a foreign LLC in those other states.What is a …

Texas Single Member LLC

The Texas single-member LLC (SMLLC) is the most popular entity choice for businesses with one owner. In this article, we will address frequently asked questions including advantages, disadvantages, costs, taxation, annual maintenance, etc. If you are considering a single-member LLC, we hope you find these FAQs informative.What is a single-member LLC?A single-member LLC is an LLC with only one owner. …

What to do after Forming a Texas LLC

Sample Post-LLC Formation Task ListCongratulations! Officially forming a Texas LLC is a huge first step. While this first step is an important one, it is by no means the last. We hope you find the list below helpful in answering the question “What do I do after forming a Texas LLC?”Sign the LLC DocumentsAfter you (and your partners, if applicable) …

Benefits of a Professional Registered Agent

What is a registered agent and should I consider using a professional?What is a registered agent?A “registered agent” is an individual (or entity) designated by a company to receive legal documents such as Service of Process (i.e. Lawsuits, Liens, Subpoenas, etc.) and other correspondence from regulatory agencies. The State of Texas requires that all entities, including LLCs, have a registered …

Texas Professional LLC (PLLC) Formation

A business entity that is formed for the purpose of providing a “professional service” (i.e. a service that requires a Texas license) may need to be a professional entity like a professional corporation (PC) or professional LLC (PLLC).

Cost to form a Texas LLC

The cost to form an LLC in Texas equals the state filing fee ($300) plus the service fee if you hire someone to create your Texas LLC.

LLC Taxation

LLCs do not have their own federal income tax classification. As such, the LLC gets to choose between the existing tax classifications: (1) Sole Proprietorship/Partnership; (2) S-Corporation; or (3) C-corporation.

Texas Series LLC for Real Estate Investors

The Texas Series LLC is quickly becoming the preferred business entity for real estate investors. By using the Series LLC, a real estate investor can now pay for only one business entity and get the liability protection that normally takes multiple entities.

How To Name a Texas Series LLC

The naming requirements for a Series LLC are similar to a traditional LLC. In this article, we’ll look at naming strategies and requirements for each series with the Series LLC.