Texas is renowned for having a strong economy and a large number of entrepreneurs, making it a business-friendly state. One of the initial tasks you’ll need to take in Texas to launch a business is to register your company name. You can accomplish this in Texas by obtaining a DBA, or “doing business as” name. But is a DBA available online in Texas?
Yes, it is the answer. The Texas Secretary of State’s website allows you to submit a DBA application online. This is an easy and practical way to register your company name without leaving your house or place of work. You must include some basic information about your company, such your name, address, and the name you intend to use for it.
Your DBA must be renewed after the initial registration every 10 years. Through the website of the Secretary of State, you can also carry out this action online. A new DBA application or renewal of an existing one costs $25.
If you’re forming an LLC in Texas, you might be asking whether you must submit taxes even if your company is not making any money. Yes, even if your LLC generates no revenue, you will still need to file taxes. This is so that all LLCs can submit tax returns with the IRS, even if they earned no income during the tax year. However, you might be able to make some claims for credits or deductions that will lower your tax obligation.
A Texas LLC may have an annual charge in addition to the state filing fees for a DBA. In Texas, an LLC must pay a yearly charge of $300. Every year on the anniversary of the creation of your LLC, you must pay this charge. Your LLC may be dissolved if you don’t pay this charge.
Finally, you could be considering if your LLC requires a registered agent. Yes, a registered agent is a requirement for all LLCs in Texas. A registered agent is a person or business chosen to accept legal paperwork on your LLC’s behalf. Suits, subpoenas, and other legal notices might be a part of this. You have the option of acting as your own registered agent or working with a reputable registered agent firm.
In conclusion, registering your business name in Texas through a DBA is a quick and easy process. Additionally, you can apply for a fresh DBA or extend an existing one online. Even if your new LLC in Texas doesn’t generate any revenue, you still need to file taxes. In Texas, LLCs are subject to an annual fee, and your LLC will require a registered agent. You may get your Texas business off to a good start by being aware of these criteria.
The advantages of an LLC vs a sole proprietorship rely on a number of variables, including liability protection, tax ramifications, and business objectives. The simplest and most economical business structure is a sole proprietorship, however this has no liability protection. An LLC, on the other hand, offers its owners limited liability protection and more taxation flexibility. In the end, it is important to seek advice from a legal or financial expert to establish which business structure is most appropriate for your requirements.