What is a good business to start in Texas?

Finance: Companies providing services such as bookkeeping, accounting, consulting, fundraising can be an ideal starting point. With Texas’s enormous economic scale, second only to California, there are several opportunities for financial services to thrive here. Specialized and affordable financial services are always in demand because small and medium startups cannot spare too much money hiring their own accountant.Commerce: A shared border with Mexico and the NAFTA agreement significantly help booster trade. Mexico alone accounts for approximately two thirds of Texas’s exports. Commerce is a good business to start in Texas. A company acting as a commerce hub for products from all the other 49 states to gather there then ship to another country and vice versa, for products from South American countries to cross the border and be distributed all over the US is a very solid business.

How much does it cost to form an LLC in Texas?

A cost of US$ 300 (US$ 308 for online application) for filing fee is incurred when submitting the Certificate of Formation for a Limited Liability Company (Form 205) to the Texas Secretary of State. There is also a US$ 30 for a certified copy of Certificate of Formation and a US$ 5 for a Certificate of Status. Both of these are highly recommended after the Texas corporation formation.Company name reservation in Texas costs US$ 40 per application. Then there are some service charges for registered agent services. As an authorized agent in Texas. One IBC can also provide the customers with such service with affordable prices.One IBC offers creating an LLC in Texas with a service of only $ 599.

How long does it take to get an LLC in texas?

In Texas an LLC usually takes as long as 2-3 days for an online application and 7-10 days for postal applications. One IBC can submit the application to the Texas Secretary of State on the very same day the customers send in the required documents. It usually takes a day or two for all the papers to be checked by the government office. If the customers have already checked and reserved the company name beforehand, there will be no more waiting. The freshly stamped Certificate of Formation is available. This means the company is official. With One IBC’s service, starting business in Texas is very convenient and is only within just 2 days.

Texas corporate filing requirements

Texas corporate filing requirements are not complicated: some forms are one-time-only while others are required regularly. During Texas corporation formation, the Certificate of Formation for LLC or Establishment Certificate for corporation must be submitted to the Texas Secretary of State (SOS).Annual forms consist of: Annual Report State Business Tax: In Texas, even LLC has to pay franchise tax. This is very complicated and it is advised to consult with One IBC specialist to understand and pay this tax properly. State Employer Tax: If the company hires someone, employer tax has to be paid and state unemployment insurance (UI) tax. Sales and Use Tax: If the company is doing business in Texas, it has to pay sales tax. Registration in Other States: If the company is doing business in other states, it needs to register and file corresponding papers. Check One IBC 50 states guide for more details.

Does an LLC expire in Texas?

During formation, the owner(s) of the LLC can designate its lifetime in the Article of Incorporation. After said date, if the company is planning to continue its business activity due to any reason, a new date has to be set and notified with the Texas government. If no date is stated, the LLC does not expire but continues on. Additionally, Texas does not require an annual report so the expiry date can be set at the owner(s)’ leisure.In the case that the owner(s) wants to end the LLC not by a specific date but by a specific event, occurrences that shall make an LLC expire in Texas such as bankruptcy or a member's death can also be agreed upon. Therefore, One IBC greatly recommends an LLC because it is very flexible for customers starting a small business in Texas.

How to create an LLC in Texas for foreign investors?

Step 1:

Name the LLC. The name has to comply with the state’s regulations and has to not be taken.

Step 2:

Contact a Texas registered agent. One IBC is authorized to be a registered agent with a local office specializing in starting business in Texas by accepting any legal document and providing proper guidance.

Step 3:

File the documents. Send Form 205 - Certificate of Formation for a Limited Liability Company with a filing fee of US$ 300 to Texas Secretary of State. One IBC will provide the application along with detailed guidance on how to fill it.

Step 4:

Create an Operating Agreement. It is a legal document detailing the ownership of the LLC as well as how business will be conducted. To create an LLC in Texas, this is not compulsory but is strongly recommended.

Step 5:

Get an EIN or ITIN. One IBC’s service covers both of these tax ID numbers.

Step 6:

Open a bank account. A local bank account can greatly help the business but the application process is very difficult. With several partner banks, One IBC can help guide customers through this process.