Business owners in the State of Texas face a lot of tough decisions. Perhaps the most significant of these decisions is the choice of entity the business will utilize while conducting its operations. Similar to many other states, the State of Texas offers its business owners and entrepreneurs several options. This Insight provides a summary of the tax and non-tax implications of each potential entity.
Sole Proprietorship.
It may surprise you to learn that starting a business in Texas sometimes does not require any formal organization paperwork at all. For example, a business owner or entrepreneur may begin conducting business in Texas under his or her own name.[i]
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