Benefits of LLC in Texas
- Provides limited liability for debts or lawsuits
- Profits and losses pass through to owners
- Allows spouses to own an LLC individually
- Can have two or more member-owners
Business Requirements and Process
- Members must follow withdrawal rules to leave an LLC
- Proper handling of assets upon departure
- Costs for filing a Texas LLC are $300 plus a 2.7% fee
- Options for entity structure include partnerships, S and C corporations
- Steps to form a Texas LLC involve filing a Certificate, appointing an agent, and paying fees
- Process includes reserving a name, appointing an agent, filing documents, obtaining an EIN, and opening an account
Texas LLC Registration Process
- Look up an LLC on the Secretary of State website by name or number
- Suitable for businesses with employees and multiple owners
- Low costs and straightforward process for registration
Annual Renewal in Texas
Do you have to renew your LLC every year in Texas?