While there are several business structures you can incorporate in, choosing one most appropriate for your Texas business can be complex.
Every single business structure has its sets of advantages and disadvantages. How this relates to the type of business you operate and what you aim to benefit from a specific structure.
If you haven’t made up your mind yet on what business structure to incorporate in, Startup Savant’s business structure guide should offer some insights. Additionally, this side-by-side comparison chart should also let you compare two structures at the same time.
When you have selected the appropriate business structure, the next step is to file the incorporation by registering your Texas business with the state. The most convenient way to accomplish this task is by using an online incorporation provider such as IncFile (for $49) or LegalZoom (for $149).
Should you decide to register your Texas business yourself, you can also do so with the appropriate guides below. Each of the guides outlines the basic steps to forming a business using various structures.
This to-do list is not a must, but highly recommended to be accomplished. These items are just some of the best practices implemented by the most successful organizations, and in order for a better chance at startup success, you can also take up these best practices.
Writing a business plan means that you are able to lay out in circumspect all the business goals that you plan to achieve. In doing so, you are also able to come up with actions and solutions to achieve these.
In the process, it helps you familiar your business more, knowing it inside out for even better management. The resources below should give you further help in writing a solid business plan.
As soon as your business is in operation, it is a must to immediately open a separate bank account for your business finances.
Doing so helps you closely supervise all the cash flow as well as finances and expenses in your business without having to painstakingly determine which transaction is personal and business related.
Recommended Resource: To begin the process of opening a business bank account, you can refer to this resource roundup of the best business bank accounts.
Taking care of each and every single Texas business tax requirement is a responsibility the moment you incorporate your business.
And this is one requirement that you should not overlook considering how sensitive the federal and state government is when it comes to the strict implementation of delivering tax returns on time. The Texas Comptroller of Public Accounts is the starting place to fulfilling the requirements.
Recommended Resource: To better help you manage business tax returns and reports, Xero can accomplish several tasks to speed up the accounting process. You can grab a free 30-day Xero trial now!
In addition to business tax requirements, business licenses and permits at the federal, state, and local sectors should also be obtained. Licenses and permits prove that your business is a legitimate entity and these responsibilities should be seriously completed.
Recommended Resource: With so many requirements to take care of, a professional’s help can come in handy. This resource package is an efficient way to accomplish this task. Alternatively, this SBA resource guide is also useful.
A business website ups your online presence and establishes your online credibility. It can also open a window of marketing opportunities for your business if implemented correctly. Contrary to beliefs that a do-it-yourself website is not possible, you can do so now with Bluehost’s one-click WordPress website installation.
Resource for Getting Started: As soon as WordPress is installed, this comprehensive guide offers the basic steps of how to create a business website.
Please be reminded that this guide is intended for informational purpose only. It is not a legal file or advice. A business lawyer is the best person to refer to when it comes to incorporation legalities.