Although it can be a demanding and confusing process, starting a business is an exhilarating experience. The choice of legal form for your company should be one of your initial choices. In Texas, the Limited Liability Company (LLC) is a common option. However, after creating your LLC, you could have some inquiries. The most frequently asked questions about Texas LLCs are addressed in this article, including: Can an LLC have more than one address? How much does a Texas EIN cost? In Texas, do I have to renew my LLC annually? And is a registered agent required for my LLC?
Can an LLC have more than one address?
Yes, as long as both addresses are listed in the Articles of Organization when the LLC is founded, an LLC may have two addresses in Texas. The registered office address, where the LLC’s official mail and legal documents are sent, is normally the entity’s primary address. Not merely a P.O. Box, but a real address in Texas, must be listed as the registered office address. The second location could be either a major place of business address, where the LLC carries out its operations, or a mailing address, where it gets its regular mail. In Texas, how much does an EIN cost? Employer Identification Numbers, or EINs, are special nine-digit numbers given to businesses by the IRS to help them be identified for tax purposes. The IRS does not charge anything for EIN numbers. However, some businesses charge a fee for their EIN application services. For a $50 cost, Texas’ Secretary of State’s office also provides an EIN number application service. Do I have to renew my LLC in Texas each year? Yes, all LLCs in Texas are obliged to pay a franchise tax and submit an annual report to the Secretary of State’s office. The annual report and franchise tax are due annually on May 15th and the 15th day of the fifth month following the end of the LLC’s fiscal year, respectively. Penalties and the potential loss of the LLC’s ability to conduct business in Texas may occur from failing to submit the annual report or pay the franchise tax. Is a registered agent required for my LLC? Yes, a registered agent is necessary for every LLC in Texas. A person or business selected as the LLC’s registered agent will receive official mail and legal papers on its behalf. In order to receive any legal notices, the registered agent must have a physical address in Texas and be accessible during regular business hours. The name and address of the registered agent shall be set forth in the LLC’s Articles of Organization. The LLC may act as its own registered agent or may appoint a person or business to act in that capacity.
Finally, Texas law permits an LLC to have two addresses as long as both are listed in the Articles of Organization. Although obtaining an EIN number is free, the Secretary of State’s office does provide this service for a $50 fee. In Texas, all LLCs must submit a yearly report and pay a franchise tax. Finally, a registered agent is a requirement for all LLCs in Texas. LLC owners may be sure they are in compliance with Texas rules and regulations by knowing the answers to these frequently asked questions.