Choosing a DBA (Doing Business As) name is one of the first things you should think about if you want to launch a business in Texas. A DBA is necessary if you wish to open a bank account, market your firm, or sign contracts using your business name. It enables you to conduct business under a name other than your legal name. A step-by-step tutorial for obtaining a DBA in Texas is provided below.
Choose a DBA name in step one. Choosing a name that is not in use is the first step in obtaining a DBA in Texas. On the Texas Secretary of State’s website, you may see if the name you want is available. Make sure your business name is distinctive and doesn’t sound too much like any others in Texas.
Once you’ve decided on a name, you must file a Certificate of Assumed Name with the county clerk’s office in the county where your business is located. The cost to file the certificate is typically around $25, and you can do it in person or online. You must provide your legal name, your preferred DBA name, and your address on the certificate.
Step 3: Advertise in a local newspaper
You must advertise in a local newspaper for two consecutive weeks following the submission of your Certificate of Assumed Name. The notice must provide your legal name, DBA name, and mailing address. After the notice has been published, you must submit an affidavit of publication to the county clerk’s office.
Step 4: Acquire all required licenses and permits
Depending on the type of business you’re running, you might need to acquire licenses and permits from the state of Texas or your local government. To find out what licenses and permits you need, check with your local government. Can a Foreign National Own a Business in the United States? Yes, foreigners are permitted to own businesses in the United States. There are, however, some limitations and prerequisites that must be fulfilled. Foreign business owners may also require a visa or work permit, as well as an individual taxpayer identification number (ITIN) from the IRS.
Can non-US citizens own corporations or limited liability companies? The ownership of a corporation or LLC (Limited Liability Company) in the US is permitted by non-US citizens. Non-residents must nevertheless fulfill some additional procedures, such as getting an ITIN and submitting taxes to the IRS.
Should a Foreign-Owned LLC Pay Taxes? Yes, taxes must be paid on the income of a foreign-owned LLC (Limited Liability Company) operating in the US. The LLC will be required to submit a yearly tax return to the IRS, as well as potential state and local tax obligations.
Should a Foreign Company Pay US Taxes? A foreign business operating in the US might have to pay US taxes on its earnings. The tax obligations for foreign businesses vary depending on a variety of variables, including the nature of the firm and the amount of money generated in the US. To assess their US tax responsibilities, foreign businesses should speak with a tax expert.
As an LLC, you must report your business’s income and expenses on your personal tax return and pay taxes on the company’s profits and losses. However, as an LLC is a distinct legal organization, it can also offer some liability protection for its owners, which means that, generally speaking, personal assets are safeguarded in case of business problems or legal issues. To fully comprehend the exact tax ramifications of your LLC for your personal finances, it is crucial to speak with a tax expert.