Maryland Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
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How to fill out Articles 5.11, 5.12 And 5.13 Of Texas Business Corporation Act?
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FAQ
LLC vs Corporation: Governance and Management Texas law also requires corporations to keep certain records, including written minutes of shareholder and director meetings. In contrast, an LLC affords members the flexibility to decide their own management structure and governance.
The fee that you will incur initially is: You have to file Certificate of formation for a Texas corporation along with a filing fee of $300. If you file a Certificate of correction then there is a fee of $15. If you make an amendment then the filing fee for a Certificate of amendment for Texas corporation is $150.
Tax liability and reporting requirements Both structures offer pass-through taxation, which prevents double taxation faced by C corporations. However, S corp can provide a tax benefit by allowing owners to pay themselves a salary, while LLC owners are subject to self-employment taxes on their entire income.
Under Article 2.21 of the Texas Business Corporation Act (TBCA), for example, shareholders or affiliates cannot be held liable for a corporation's contractual obligations unless they caused the corporation to be used to perpetrate ?an actual fraud? primarily for the purpose of personal benefit?.
Choose a name for your business. ... Designate a Registered Agent in Texas. ... File Articles of Incorporation in Texas. ... Create your Corporate Bylaws. ... Appoint your Corporate Directors. ... Hold the First Meeting of the Board of Directors. ... Authorize the issuance of shares of stock. ... Obtain your Texas business licenses and permits.