First, search your business name and compare it to existing business entities in Texas. You can make sure the LLC Name you want is unique from existing businesses using the Taxable Entity Search from the Texas Comptroller. Second, familiarize yourself with the state’s naming rules (so your Te...
Topics discussed include a brief historical overview of series LLCs in Texas, Texas franchise tax code (TTC) as well as its provisions and proposed regulations for taxation of series LLCs for federal income tax purposes. Other topics include the Catch-All Clause of TTC Section 171.0002 and ...
An LLCoperating agreementisn't required in Texas, but is strongly recommended. The operating agreement is an internal document that details the rules and procedures for how your LLC will be run. It sets out the rights and responsibilities of the members and managers, includinghow the LLC will ...
Start Your LLC Start Your LLC Start Your LLC Top Get helpful tips and info from our newsletter!
For most people (not residing in California) they’d just be doing business in Tennessee, however, as a California resident, you’re doing business in both California and Tennessee. California has extremely strict rules regarding what defines doing business. Something as simple as making a phone...
LLC Tax Status Options By Brett Melson Monday, July 1, 2024 An LLC offers the limited liability of a corporation and flexible taxation. To file and form both an LLC requires little to no personal information, and Harvard Business Services makes the process simple and convenient. In this ...
Most small business LLCs are formed in Texas and Florida. Small businesses in these states seem most satisfied with the taxation and fees in these states. Again forming an LLC in Texas and Florida only makes sense if your business is located in these states. Is an LLC right for your busin...
This process is known as “pass-through taxation.” Below, we’ve explained how these taxation rules vary in a number of common scenarios and tax classifications that an LLC can elect during its formation. Single-Member LLC Taxes If your LLC only has one owner, the IRS treats it the ...
It houses the rules of your LLC. Not only is this important for LLC members, but it can also help avoid state-imposed default rules. You will have written agreements on how disputes will be handled. Hopefully, you won’t need to refer to them, but it’s better to have them laid out...
Hiring employees in Tennessee LLC requires following specific rules and regulations. On the other side, EIN for Tennessee foreign LLC should be obtained if your LLC is based in other states. To obtain EIN (aka FEIN), one must fill up a form (Online or by mail) and submit it to the ...