In Texas, registering an LLC costs $300. When you submit your Certificate of Formation, you must pay this charge to the Texas Secretary of State. However, there is an extra price of $25 for same-day processing and $50 for 24-hour processing if you require your LLC creation to be completed quickly.
You must still pay the $300 filing cost in Texas even if your LLC has no revenue. This cost is a one-time payment that is unrelated to your LLC’s earnings or revenue.
In Texas, an LLC does not immediately dissolve when an owner dies. What happens if an owner passes away should be specified in the LLC’s operating agreement. The Texas LLC Act takes over in this situation if the Operating Agreement doesn’t address it. According to the terms provided in the Operating Agreement or the LLC Act, the LLC will often continue to operate with the surviving owners or be dissolved.
An LLC does not have a time limit in Texas. However, the Texas Secretary of State has the authority to administratively dissolve your LLC if you don’t submit your franchise tax reports and pay your franchise taxes. Make sure you submit your franchise tax reports on time and to pay your franchise taxes in full to prevent this.
The Internal Revenue Service (IRS) issues an Employer Identification Number (EIN), a special nine-digit number, to identify your company for tax purposes. You can submit an application for an EIN number in Texas online through the IRS website, by mail, fax, or phone. Applying for an EIN number is free.
In conclusion, even if your LLC has no revenue, forming an LLC in Texas costs $300. In Texas, an LLC does not immediately dissolve when one of its owners passes away. In Texas, an LLC does not expire, although administrative dissolution may occur if franchise tax reports and payments are not made. You can submit a free application online, via mail, fax, or phone to obtain an EIN number in Texas. You may start and run an LLC in Texas with more confidence if you are aware of the charges and criteria.
When registering an LLC in Texas, you are permitted to act as your own registered agent. You must, though, have a physical address in Texas where you can receive communications and legal papers during regular business hours. You must also be accessible at that location throughout business hours in order to receive any relevant papers pertaining to your LLC.