Share |

Starting a New Business in Texas

 

Texas is considered a business state, known for its strong and healthy business climate. There are several specific steps that should be followed to successfully start and grow a business in the state of Texas:

 

Select a Location to Start Business

A good location can play a vital role in the success of your business. It is recommended to consult local government representatives to ensure the location is appropriate for your business needs. Retailers should take considerations such as foot traffic, proximity to highways, and the competitors’ locations into account when deciding where to set up shop. If you want to start your business in the state of Texas, you must also have a local address under which it can appear on the list of government records.

 

Raise the Money to Start Your Business

The government offers various loans and grants to help start new businesses. If you are interested, the Small Business Association can provide you with a list of government and private agencies that invest in small businesses. If you want to get a loan or grant, first make sure that you will be qualified and then submit a detailed grant proposal for approval.

 

Identify a Preferred Business Legal Structure

If you are thinking of starting a business in the state of Texas, you should select which form of legal entity is most appropriate for your particular business needs. You can choose to operate as a sole proprietorship, a limited liability company, a limited partnership, a professional association, a C corporation, an S corporation, or a general partnership. Each of these business organizational structures has its advantages and disadvantages. We offer registered agents services for all businesses entities that wish to operate in Texas.

 

Register Your Business Name

Before you start a business in the State of Texas, it is important that you decide on a name for your business entity. Then you should check with the Texas Secretary of State if the exact business name you chose is already in use by other corporation, limited partnership, professional corporation, non-profit corporation or limited liability company in the state. You cannot use the same name of another corporation in Texas. Once you have checked that your desired business name is free to use, you can register it.

 

Get an Employer Identification Number

In most cases, a new business entity in the state of Texas is required to obtain an employer identification number (EIN), also known as a federal tax identification number. You can get it from the Internal Revenue Service by applying on line, by mail or phone. In case if you do not plan to hire any employees, EIN may not be required.

 

Register with the Texas Comptroller

The state of Texas does not currently have a state income tax. However, there are several business taxes, including property tax and sales and use tax. They vary from 6.25 up to 8.25 percent of revenue depending on your location within the state. In order to take care of this issue, appeal for a sales tax permit with the Texas Comptroller of Public Accounts.

 

Obtain Required Licenses and Permits for Your Business

Despite the fact that there is no general business licence required, you must meet some licensing and permitting requirements of the Texas local government. You can find out more about the requirements by contacting the local county and city agencies.

 

Purchase Business Insurance

You will need to establish some level of protection for your new business. It is important to purchase the proper type of insurance that will protect your office, its contents, key employees and you personally in the event of disaster, accident or litigation. For more help, you should consult with a licensed insurance agent in the state of Texas. Talk to friends and other business owners or read online reviews to find a credible, professional and experienced insurance agent.

 

Starting a new business in the state of Texas can be very rewarding. At National Registered Agents, Inc. we can help minimize some of the start-up tasks by helping you with filing and registered agent services. Our experienced customer service specialists will be happy to assist you with this process. Contact us today to learn more about our products and services.