However, depending on where your LLC is located, you may need a local business license or permit. For example, if you want to start a daycare, you may need a business license from the city or county. You can learn more on our Texas Business License page. Complete the Franchise Tax Ques...
The Lone Star state has attracted hundreds of corporations with its low-tax, light-touch approach, but the strains are starting to show July 17 2024 Elon Musk Musk says he will move SpaceX and X headquarters to Texas from California
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 ...
Tax registration and filings.If you have employees or will be selling goods andcollecting sales tax, you'll need to register with a Texas taxing authority. For example, if you collect sales tax, you must register with the CPA. For more information on Texas LLC tax registration, check out o...
Texas has three tax-free weekends throughout the year: April – Emergency preparation sales tax holiday:In 2024, this took place from April 27 through Monday, April 29.Pay no taxes on eligible emergency-prep necessities for hurricane season. ...
TheTexas Franchise Tax and Public Information Reportis a tax for the privilege of doing business in the state of Texas. If you do business in Texas, odds are you have to file. Nearly every entity type—LLCs, LLPs, S corps, regular corporations, and more—is subject to this tax. ...
Most business types in Texas are subject to the franchise tax. The exceptions to not paying the franchise tax are for some general partnerships and sole proprietorships. Limited liability partnerships and limited liability companies (LLCs) are subject to paying the franchise tax. The franchise tax...
Maintaining a Texas registered agent is a legal requirement that applies to corporations, LLCs, and all other formal business entities in Texas.
Other Texas LLC benefits include: Pass-through taxation Tax options like S corp Simplicity Increased credibility Name registration Ownership flexibility Recommended: Visit our Should I Start an LLC guide for help with choosing the right structure for your small business.Benefits...
In the U.S., it is mandatory for an LLC to appoint a registered agent to perform a number of tasks, including: receiving legal documents that are served against the LLC, such as lawsuits and legal notices. receiving tax and other official business documents on the company's behalf. ...