Limited Liability PartnershipUnited States · Texas
What it takes to form, own and run a limited liability partnership 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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a partner is not personally liable to any person, including a partner, directly or indirectly, by contribution, indemnity, or otherwise, for any obligation of the partnership incurred while the partnership is a limited liability partnership.
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All general partnerships must have two or more general partners.
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The filing fee for registration is $200 per general partner.
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A partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax.
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
- Does not apply
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
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All general partnerships must have two or more general partners.
- A local company secretary
- Not required
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Officers of a domestic entity may be elected or appointed in accordance with the governing documents of the entity or by the governing authority of the entity
- A local registered agent
- Not required
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The application must: (1) set out: (A) the name of the partnership; (B) the federal taxpayer identification number of the partnership; (C) the street address of the partnership's principal office in this state or outside of this state, as applicable; and (D) the number of partners at the date of app
Each year, at the registry
- Annual registry fee
- USD 200 (about €175)
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The fee for the annual report is $200 for each partner on the date of filing the report.
- Accounts on the public record
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit for a small company
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- Annual report of a limited liability partnership
- 1 June
With Texas Secretary of State
Notice is sent by the Secretary of State by March 31, but failure to receive it does not excuse the report. The first report falls on June 1 of the year after the registration year.
What is public
Not in our records What the register shows the public is not in our records for the Limited Liability Partnership.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Through owners+1 regime
Federal: a partnership files an information return and does not pay income tax; profit passes through to the partners. State: limited liability partnerships are subject to the Texas franchise tax.
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A partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax.
Special regimes that may apply
- 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
- Notice of Withdrawal of Registration of a Texas Limited Liability Partnership (Form 704); registration also ends if the annual report is not filed.
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Form 704 - Notice of Withdrawal of Registration of a Texas Limited Liability Partnership
- Statutory fee
- USD 15 (about €13)
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Withdrawal of registration as a Texas limited liability partnership or limited liability $15 limited partnership (Form 704)
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
- Limited liability partnershipDerived our grouping, the same words in every country
- Name in law
- Limited Liability Partnership
- Identifier
- US-TX-LLPA form ISO 20275 does not list.