Starting with a limited liability company (LLC) would help you to have a secured financial and legal responsibilities. If you are planning to start it in the state of Texas, you are in the right direction. Texas offers a wide array of benefits including taxation, asset protection, and continuous support from the Texas State Secretary. Corporations and partnerships are also some factors to check when looking for their advantages.
If you are wondering how much does an LLC cost in Texas and what are the benefits you’ll get after starting an LLC in Texas, check this list out:
Extra Credibility
Having an “LLC” or simply “Inc.” at the end of your business will truly project a reputable business name. Beyond that, having an LLC business in Texas would give you an extra edge to be part of the most protected LLC in the country.
Permanent Existence
Having an LLC in Texas ensures your business’s never-ending operation even when members or owners of it pass away. It is an advantage over other entities like sole proprietorship from which when the owner/s is gone, the business will follow.
Not A US Citizen? No Issue
The state of Texas does not put restrictions on non-US residents for them to form an LLC business entity. Still, the LLC may opt to submit a certificate of residency or other citizenship requirements if they want to, so studying LLC formation documents thoroughly before making any actions is crucial.
Tax Advantages
Taxation is one of the challenges in the LLC business. In Texas, you don’t have to worry about this as they provide tax benefits. The state of Texas allows the business expenses and operating costs to be deducted from the gross revenues of the business. Texas LLCs can also subtract the depression of the company assets as part of the balance.
Loan Applicability
Access to business loans promotes state support for businesses. By choosing Texas as the location for you to form an LLC, you are ensured to have the ability to build a credit history. It will enable your LLC to apply for lines of credit and loans.
Supportive State Secretary
As a legally recognized business, a limited liability company requires to deal with the Secretary of the State along with the processes. Texas’ Secretary of the State serves as a support system for your company that will give your LLC protection under the provisions of the Texas Miscellaneous Corporation Laws Act (TMCLA) and Texas Business Corporation Act (TBCA).
Acceptable Registration Cost
The Texas LLC registration or formation price costs $300 which is way lesser than registering a 750-dollar limited partnership. Furthermore, it is also better than multiple 200-dollar fees for having a limited liability partnership (LLP).
Conclusion
From a wide pool of advantages on starting an LLC business in the state of Texas, surely you won’t invest a coin to lose. Texas will be behind your back to support you.
