Under Texas state law, a series LLC is defined as an LLC that “provides in its governing documents for the establishment of a series of members, managers, membership interests, or assets that have separate rights, obligations and liabilities and business purposes from the general LLC.” When it comes to incorporating a business, you are going…
The cost of a business license in Texas varies. If your municipality requires a standard business operating license or a specialized license for the type of business you want to run, it will cost from $15 to $30. Note that you will require specialized licensing for amusement machines (arcades, billiards, etc.) and this license usually…
Texas LLC operating agreement is a legally binding document that outlines the members’ rights and obligations in the operation, governance, and distribution of economic benefits of an LLC. The nature and appeal of an operating agreement are that you can design it the way you want. However, there are still model operating agreements with standard…
There are lots of benefits when you choose a Limited Liability Company (LLC) in Texas. This is because, by default, LLCs in Texas do not pay federal income taxes, only their members do. Texas, however, imposes a state franchise tax on most LLCs. The tax is payable to the Texas Comptroller of Public Accounts. A…
Texas requires all business entities to appoint a registered agent before they can start operating in the state. In order to become an LLC in Texas, a business is required to file certain organizational documents, including the Certificate of Formation. Domestic Texas LLCs require a registered agent and it will cost you $300 to register…
No. In Texas, you cannot form an LLC for free. The cost of forming an LLC (limited liability Company) online in Texas is $300. When filing the LLC’s Certificate of Formation, this fee is paid to the Texas Secretary of State. The basic cost of registering a foreign LLC is $750. Optional fees for a…
Yes. An LLC can expire in Texas. Limited liability companies are established or created by individual members, and they can have one or more owners. The members have the right to decide when and whether an LLC will continue indefinitely or expire on a particular date. LLCs are also expected to comply with filing requirements…
More often than not our business activities may fail to go as intended. If you find yourself in such a predicament and your existing business structure is a limited liability company (LLC), you might be wondering on the best way to dissolve your LLC in Texas. Numerous enterprises in Texas are LLCs because it is…
To remove a member of an LLC in Texas depends on how the corporation was formed from the onset. Many folks start enterprises with good intentions – Business owners have a common goal and collaborate to make it a reality. They usually form a limited liability company to ensure optimal tax perks while minimizing business…