Start an LLC in Texas following our 12-step guide or let MyCompanyWorks Texas LLC filing service do the work for you.
The abbreviation ‘LLC’ stands for ‘Limited Liability Company’. This is a type of company that can provide protection for personal assets. LLCs are easy to start and manage. You can register a business in Texas with just a few details and proper identification. There should be at least one person listed as a “member” of the LLC; this can be an individual or another LLC. Members can then transfer ownership interests to other members or third parties without the need for an LLC to issue shares. All a member needs is to stay in good standing with the state and federal governments.
LLCs are a type of company that taxes individual members rather than shareholders, so they all have a stake in how the LLC operates. Members also have the right to collect profits through dividends.
Creating an LLC in Texas is a good idea for several reasons. You’re forming a legal entity, so you’ll need to meet certain requirements and make tax considerations. You’ll need to file what is known as the Articles of Organization with the Texas Secretary of State in order to set up your LLC. Qualifying LLC members can be Americans, non-citizens, legal immigrants, other LLCs, and even IRAs. Read our Business Entity Guide to help you start the right kind of business.
The process of starting a Texas LLC usually takes between two and five business days, but unexpected delays and peak seasons can sometimes extend the process. The cost to form an LLC depends on whether you form your own LLC or hire our Texas LLC service to file the paperwork for you. Many attorneys and accountants offer LLC formation services, but they charge their hourly rates, so they can cost quite a bit more than filing yourself. If you’re not sure if a Texas LLC is right for your business, we recommend talking with a tax professional or attorney.
Our Accounting Partners can help you decide if a Texas LLC is the best option for your company.
Starting a business in Texas doesn’t have to be expensive and time-consuming. We have developed a Texas LLC formation checklist that includes links to programs and resources to make it easier and faster for entrepreneurs to start their own business at no cost, with the click of a button.
Texas Small Business Administration: Get in touch with us today and we’ll be happy to help you find resources for your business.
Texas Small Business Development Center: For more assistance with all of your business needs, express interest in working with us today.
Texas Commission on Environmental Quality: The Pollution Prevention (P2) Planning portal is full of resources to help you contribute to managing pollution and waste in the Lone Star state.
TIP: The Internet can be your best friend when it comes to registering a business in Texas. A simple Google search for Texas business resources returns a load of results for everything from organizations to networking groups to free tools to manage your company.
Before you start with a Texas LLC formation, there are some things to consider. To make sure the Lone Star State is the best state to form your LLC, read the benefits and drawbacks below.
If you’re thinking about forming a Texas LLC for your business, there are a few vital steps you need to take before the company is officially formed. Let’s review them now.
Texas LLCs are easier to set up than corporations and provide all company members with limited personal liability. They’re cost-effective and generally hassle-free to manage. Though there is no guarantee against lawsuits, you can keep your personal assets separate from the business. The LLC also makes it easy to run your business with less paperwork than a corporation. Liability protection, ease of operation, and personal taxation are just three of the many advantages that an LLC can provide for a small business owner. You may even enjoy other benefits depending on citizenship status.
If you’re offering services instead of products, a Texas LLC might suit you best as both the easiest and cheapest form of limited liability company. You can save some money and time with MyCompanyWorks’ filing service for Texas LLCs. Filing the paperwork and maintaining your business is easier than ever with our exclusive Startup Wizard and free My Account Dashboard. If you need help deciding if a Texas LLC is right for your business model, we suggest contacting one of our accounting partners for help and more information.
Taking advantage of Texas Small Business resources like the SBA and SBDC can help your LLC startup on the right track. These resources offer volunteer support and funding information for startups. There are lots of free tools, events, forums and networking opportunities out there that can help you run your business more effectively.
As with any business type, there are benefits and disadvantages to establishing an LLC. Make sure you weigh the pros and cons before you make a decision that may not be in your best interests. For instance, while some states may be more advantageous to form an LLC in, some may also require some difficult paperwork depending on your circumstances. Visit our guide for Texas business startups to find forms and best practices for creating an LLC in Texas.
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This entry was posted on Friday, January 21st, 2022 at 1:28 pm and is filed under Starting A Business, Limited Liability Company. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
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