For-Profit CorporationUnited States · Texas
What it takes to form, own and run a private limited company in United States · Texas, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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may not be held liable to the corporation or its obligees with respect to
The registry’s and the law’s own pages do not mention it.
The registry’s and the law’s own pages do not mention it.
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The filing fee for a Certificate of Formation for a for-profit corporation is $300
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For federal income tax purposes, a C corporation is recognized as a separate taxpaying entity.
Form it
Who registers it
- Registry
- Formed without visiting
- Yes
- Formed online
- Yes
What it takes to form
- A notary
- Not required
- A resident director
- Not required
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- At least 1 · none need live there · individuals only
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A minimum of one director is required
- Shareholders
- Not stated
The registry’s and the law’s own pages do not mention it.
- Members
- Does not apply
- A local company secretary
- Not required
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The board of directors of a corporation shall elect a president and a secretary at the time and in the manner prescribed by the corporation's bylaws.
- A local registered agent
- Required
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Note: A corporation is required to maintain a registered agent and a registered office address in Texas.
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the For-Profit Corporation.
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the For-Profit Corporation are in our records.
What is public
- Directors
- Public
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Officer and director information on the Comptroller’s website is obtained from the most recent PIRs processed by the Texas Secretary of State (SOS).
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies · 21%+4 regimes
Federal: a C corporation is a separate taxpayer; corporate income tax at 21% of taxable income. State: Texas franchise tax is imposed on the corporation as a taxable entity.
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For federal income tax purposes, a C corporation is recognized as a separate taxpaying entity.
Special regimes that may apply
- Deduction for foreign-source portion of dividends received from specified 10-percent owned foreign corporations holding · 100% exempt
Domestic corporations that are United States shareholders of a specified 10-percent owned foreign corporation, on dividends received from it 26 U.S.C. § 245A(a) - Deduction for foreign-derived intangible income and global intangible low-taxed income other · 37.5%
Domestic corporations with foreign-derived intangible income, and with GILTI included under section 951A 26 U.S.C. § 250(a)(1) - Alternative tax on qualifying shipping activities tonnage
Electing corporations engaged in qualifying shipping activities 26 U.S.C. § 1352 - Qualified opportunity zones free zone
Taxpayers with eligible gains who invest them in a Qualified Opportunity Fund holding property in a designated zone 26 U.S.C. § 1400Z-1 (designation) and § 1400Z-2 (deferral and exclusion), enacted by the Tax Cuts and Jobs Act of 2017, Public Law 115-97
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in United States
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Certificate of Termination of a Domestic Entity (Form 651) filed with the Secretary of State; the Comptroller requires a final franchise tax report before termination.
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Form 651 - Certificate of Termination of a Domestic Entity
- Statutory fee
- USD 40 (about €35)
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Certificate of termination for a Texas entity (except nonprofit corporation or $40 cooperative association) (Form 651)
Every business in United States · Texas
Sales and consumption tax
- The tax
- Sales tax (state and local)
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you can elect to deduct state and local general sales taxes
- Standard rate
- Set by the states or provinces
There is no national VAT or sales tax; rates are set by each state and locality.
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you can elect to deduct state and local general sales taxes
- Registration threshold
- Not in our records
- A foreign company
- See the note
Sales tax is administered by state and local authorities, not the federal government, so there is no national registration rule to record.
- Tax authority
- Internal Revenue Service (IRS) at federal level; sales tax is administered by state and local authorities
Portals and registers
- Business registerNone — state-level business registries; no single national registry
- Tax authorityInternal Revenue Service (IRS)
- Tax treatiesUS Department of the Treasury - Tax Treaties
Payment and banking services
6 services name United States on their own list: Paysera, Airwallex, Stripe, Revolut, Brex, Mercury. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- For-Profit Corporation
- ISO 20275 code
- C5K7Secondary GLEIF, Entity Legal Forms code list