Hello all. I'v been doing research on how to get my company set up with all the license, permits, etc. But everytime i think i have it figured out i"ll read something that just sets me back, and it doesn't help that most of these required documents have multiple names. Its all very confusing. If someone could just lay out everything Im required to get to legally start my business in Texas, I would really appreciate it! Im wanting to start as sole proprietor btw. Thanks!
Need help starting a business in Texas!
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You can apply for your EIN online at the link below.
https://sa1.www4.irs.gov/modiein/individual/index.jsp
As for you County Taxes you can probably find out that info at your local city hall or courthouse.
https://sa1.www4.irs.gov/modiein/individual/index.jsp
As for you County Taxes you can probably find out that info at your local city hall or courthouse.
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I'm in Bexar county also, sole prop. No special licensing that I'm aware of, just EIN and state retail sales tax license is all I have. Unless your going to coat your screens with soylent green and reclaim them using napalm I think your safe but always check with your city/county officials. Hey Jim if I'm missing something let me know ! Hate to be on the wrong side of the regulators LoL!!
you have covered it pretty much. But still take advantage of SCORE. Free from the state and guide you in all aspects. I have LLC because I love keeping my house. Just saying we all make mistakes and a good cover will help. Most places require insurance as well and they help find it all.
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Jaykep311 , clean up your mailbox so I can PM you
Ok everything is making alot more since. So far I'v got my Sole Proprietor, EIN, and im going to get a sales tax license in the near future.. Thanks again everyone, you've all been every helpful! Oh and mailbox is cleaned out now Brandon
related question guys ..... I started my online business in Louisiana. Registered with my local parish (county) office, obtained an EIN, and pay taxes and all. I run an "online" based business and all transactions take place online. Since then, Ive moved to Texas, and Ive still been running it (website, ebay, amazon etc) ..... do I need to register my business here in Texas? I dont make any face to face transactions out here. Ive shipped to customers in Texas but ALL those transactions took place online, just like Ive shipped to pretty much every other state. Just wanting to cross my T's and dot my I's to be on the safe side. If anyone has any valuable input, Id appreciate it. Thanks
You will need a state tax ID for selling to customers in the state you live in. That is because you have a brick and mortar in that state. If you sell to an out of state you do not for now. They are trying to pass that law now. Also if your income from the business is under $5000 a year it is a hobby not a business. But it is on your best interest to get tax ID and cover yourself.
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Hi Cornerkid, welcome to Texas 
)
Just my two cents, make sure you let the IRS know you moved your business to Texas (change of address) and if not dealing in Louisiana any more make sure you close out those accounts! When I moved from Georgia to here I had to do a lot of explaining to the state tax comptroller why I shouldn't have to pay them a huge fine for not reporting sales tax because I didn't close out my account. as for as registering here, just call them and ask. They are easy to get along with and will give you the right advice.
good luck
)Just my two cents, make sure you let the IRS know you moved your business to Texas (change of address) and if not dealing in Louisiana any more make sure you close out those accounts! When I moved from Georgia to here I had to do a lot of explaining to the state tax comptroller why I shouldn't have to pay them a huge fine for not reporting sales tax because I didn't close out my account. as for as registering here, just call them and ask. They are easy to get along with and will give you the right advice.
good luck
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Hmmmm, jfisk, where is that written? I haven't heard that one before. I know if you show a loss for 3 out of 5 years the IRS MAY deem you to be a hobby but you can still fight that. I have never heard the $5000.00 thing before. You got me curious....Just asking
when I went to SCORE program they explained it. Under a certain amount per year would be considered a hobby. Like if you sold paintings you do or a photograph. But how many small businesses make under $5000 in a year? Not many if any.
I know when I stand corrected. Although it could have been true when I started this is what I found.
Often, the first few years of engaging in a new enterprise results in a loss of money. However, one criterion the IRS looks at to determine whether yours is a hobby or business, is profitability. If you do not actually show a profit in one year, you must show that you intend to make a profit soon. Although there may be exceptions, the IRS expects you to make a profit at least three years of the last five. You can also prove your intention by keeping good financial business records, obtaining necessary local business licenses, opening a separate bank account and showing ongoing advertising and marketing.
Allowable Hobby Deductions
The IRS states that you can deduct hobby expenses to offset hobby income, but no more. You add the deduction to your other deductions and the total is subject to the 2 percent limit. You must report hobby income as "other income" on your return. Financial hobby losses may not offset other income. You must itemize the deductions on Schedule A, Form 1040.
http://.ehow.com/info__business-vs-hobby-taxes.html#ixzz2wqKQGs5J
Often, the first few years of engaging in a new enterprise results in a loss of money. However, one criterion the IRS looks at to determine whether yours is a hobby or business, is profitability. If you do not actually show a profit in one year, you must show that you intend to make a profit soon. Although there may be exceptions, the IRS expects you to make a profit at least three years of the last five. You can also prove your intention by keeping good financial business records, obtaining necessary local business licenses, opening a separate bank account and showing ongoing advertising and marketing.
Allowable Hobby Deductions
The IRS states that you can deduct hobby expenses to offset hobby income, but no more. You add the deduction to your other deductions and the total is subject to the 2 percent limit. You must report hobby income as "other income" on your return. Financial hobby losses may not offset other income. You must itemize the deductions on Schedule A, Form 1040.
http://.ehow.com/info__business-vs-hobby-taxes.html#ixzz2wqKQGs5J
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Hi all. Here in Houston, I can help:
Texas Secretary of State office: You can file for a Corporation online or fax through Business filings or their S.O.S Direct system- Texas Secretary of State
Texas Comptroller office (Sales permit): You can go right into the office in your area or you can file for a Franchise tax certificate online. i like going in because you will get your temporary certificate immediately- Texas Franchise Tax
I have been in the printing and promotional industry in Texas since 1988 so ask away!
Texas Secretary of State office: You can file for a Corporation online or fax through Business filings or their S.O.S Direct system- Texas Secretary of State
Texas Comptroller office (Sales permit): You can go right into the office in your area or you can file for a Franchise tax certificate online. i like going in because you will get your temporary certificate immediately- Texas Franchise Tax
I have been in the printing and promotional industry in Texas since 1988 so ask away!
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Texas Secretary of State handles business filings. There are multiple ones, so feel free to check it out. I added the link in my previous post. Good stuff to peruse.
A corporation will provide better protection as it separates you from your business in the event of lawsuits and debt management. A DBA (not under a corp) is the same as you doing business which opens you up to personal liabilities.
The Texas Secretary of State handles selling permits, which you will pay on a monthly or quarterly basis.
A corporation will provide better protection as it separates you from your business in the event of lawsuits and debt management. A DBA (not under a corp) is the same as you doing business which opens you up to personal liabilities.
The Texas Secretary of State handles selling permits, which you will pay on a monthly or quarterly basis.
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