How To File For Llc In Texas – Starting a Texas Limited Liability Company (LLC) for your business is a quick and easy way to get your business off the ground. An LLC is a cost-effective structure for small and medium businesses.
LLCs are business entities that offer personal liability to their owners. As a result, if your business runs into legal or financial problems, it may not be possible to protect your own assets. And LLCs avoid double taxation through a concept called pass-through taxation.
How To File For Llc In Texas
Advertisement: Hire a private firm to handle your LLC formation: Northland ($39 + state fee) or LegalZoom ($0 + state fee) Step 1: Choose a name for your Texas LLC
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The name you choose should be familiar to your customers, different from other businesses, and conform to Texas state law on business naming.
Check if the specified name exists. This can be done by running a name search through the Texas Controller.
Allow up to 120 days while you complete other steps to set up your LLC. You must apply and pay a $40 fee.
Finally, check if the domain name exists. Check if your business name also has a domain name. Even if you don’t plan to build a website right now, you still need to grab it so that other people don’t buy it.
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Tip: You don’t have to use your LLC’s official legal name every time you do business. For example, if you work under another (or more) brand name, you can also file with a DBA (business) known as a business name or fictitious name. Doing so will legally link your LLC to another transaction name.
A registered agent is an individual or business that receives legal and tax information for your business.
If you don’t want to be a personal registration agent, you can hire one in Texas for $89-$175 per year.
If you set up an LLC at Northwestern, you get a free company registration for the first year. After that, it’s $125 per year.
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Whoever you appoint as a client must obtain written consent to show that they agree to the decision.
This application will provide the Texas Secretary of State with the necessary information about your corporation, including the corporation’s name, physical address, registered agent/owner and address, and the general purpose of the corporation.
Once the Secretary of State receives your Certificate of Incorporation, if you file electronically, it will take 4 or 5 business days to process. But if you send the documents by mail, the registration of the LLC may take up to 4 to 5 weeks.
After your certificate is approved, you will receive a certified copy, which means you are officially licensed to do business in Texas. Hello!
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Even if you get a certified copy of your certificate of incorporation, you should also get a certified copy of your business registration. You may need to provide a certified copy to open a business loan or apply for a business loan.
Although Texas does not require your LLC operating agreement, it is best practice to have one in place to prevent misunderstandings between LLC members.
LLCs use operating agreements to outline the rules, regulations, and procedures for operating and managing a business. The agreement includes information on financial and operational outcomes. Think of it as a plan for prevention and corrective action.
If you don’t create an operating agreement for your LLC, your business will be governed by Texas default law, which can have unexpected consequences.
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An EIN is an identification number that the IRS uses for your business. Think of it as your business’s social security number.
You need an EIN to file federal taxes. Also, it is used for corporate taxes and employment taxes if you are an employee. However, if you are the sole member of your new Texas LLC, you do not need an EIN. That’s because the IRS doesn’t care about businesses and sees you and your business as taxpayers. Then you use your Social Security number on your LLC state tax return.
However, it is a good idea to get an EIN for your individual member LLC. You’ll need to open a business bank account, and help prevent identity theft by keeping your Social Security number on your business documents.
You can apply for your credit online using the IRS Online EIN, which is free. You can still get your EIN by answering a few questions about your business.
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And send a letter or fax to the Home Office. It’s still free, but it may take up to 4 weeks to get your EIN.
Below is an overview of all the costs (mandatory and optional) you may face when starting a corporation in Texas.
If there is no change in structure, LLCs are not included in the annual report with the Secretary of State. Instead, LLCs must file a public disclosure report with the Texas Comptroller of Public Accounts.
Once you get your EIN, you can open a business bank account. It is important for an LLC to keep your business finances separate from your own. Here’s why business loans are important:
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Because banks have different requirements for opening and maintaining an account, it’s a good idea to call around to see which options are best for you.
Tip: Consider getting a business credit card in your company’s name. You can get paid or reimbursed when your business and personal accounts are separated.
Texas does not require a general business license or permit. However, some businesses require a license to operate. For example, a permit from the Texas Alcohol and Beverage Commission is required.
Finally, your local city or jurisdiction may require special permits or licenses. Therefore, check with your local authority to determine what type of license your business needs to operate.
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Benjamin Miller is a tax and estate planning attorney specializing in international tax and a variety of jurisdictions and estate planning for large corporations. Benjamin received his Juris PhD from Florida International University College of Law and LL.M. in taxation from the Illinois Institute of Technology Chicago-Kent College of Law.
Disclaimer: We try to educate our readers as much as possible, but we do not provide legal or tax advice, and our information is for general information only. If you need legal or tax advice, contact a qualified professional. We earn a commission when you purchase the services we recommend. Texas approves an LLC certificate in 3 to 4 business days and is filed online through SOS Direct. However, submissions sent by fax or mail will be processed within 30 business days (or 10 business days if courier service is requested).
The processing time for the Secretary of State will vary depending on the number of active documents and the method of submission to issue the Certificate of Incorporation.
This article will show you how to plan your current Texas LLC process, describe common causes of unnecessary delays, and share strategies for speeding up your process. the government.
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There are four ways to submit a certificate of incorporation to the Texas Secretary of State, which will result in different processing speeds:
State processing times vary from week to week due to the volume of documents they receive and staffing restrictions. For example, the government activated it on December 21, 2023, the same day we sent our SOS Direct files. Check the current approval period →
The quickest way to form a Texas LLC is to file a Certificate of Incorporation with the Secretary of State through SOS Direct. LLCs submitted through SOS Direct are approved within 3-4 business days with the creation date corresponding to the submission date, not the approval date.
The Secretary of State inspects all certificates for compliance. Some of the delays are due to staff shortages and traffic issues such as traffic jams and are therefore beyond our control. However, most delays are the result of non-compliance and can be avoided.
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The Secretary of State will issue a “document number” when they approve the certificate they have made and post a scanned image of the corporation certificate marked with their code. Once approved, SOS will email a copy of the publication certificate of the selected document to the administrator.
Yes, LLCs filed with the Secretary of State (SOS) through SOS Direct will have a formation date that is the same as the filing date (not the approval date).
The Texas Secretary of State will allow the immediate or expedited formation of an LLC for a fee of $25. Extension is available for slow file transfers (mail and fax files). Internet file transfers cannot be accelerated, but fast file processing is faster. Instant Payment reduces processing time by mail or fax from 30 business days to 10 business days.
No, LLCs cannot be navigated online (via SOS Direct or SOS Upload). Anyway, it’s an online file