Legal Question in Business Law in Texas
Incorporate in Texas
I'm trying to decide where to incorporate. I'm a texas resident, and I want to incorporate here in the state. In the article of incorporation, it asks for ''Authorized Shares''. Is my company gonna be taxed based on the number of shares I issued from the begining? So far, the only tax that I know of, is the Franchise Tax that I have to report with the state comptroller. I've seen some website that do incorporation for you said somethin about 1500 shares above that, you get taxed or something like that. I asked a CPA and they want me to ask a corporate lawyer, so I desperately need some answer. Thank you so much.
Liz
1 Answer from Attorneys
Re: Incorporate in Texas
The Authorized Shares are the total number of shares the corporation may ultimately issue. The corporate taxes are the Franchise Tax, and has nothing to do with the number of shares issued.
Related Questions & Answers
-
Closing down a corporation can one director of a newly formed corporation suddenly... Asked 11/02/06, 11:30 am in United States Texas Business Law
-
How do I register a DBA for Free How do I register my company name, which does not... Asked 11/01/06, 9:08 pm in United States Texas Business Law
-
Non-payment on business account We were hired by a contracting company to do... Asked 10/30/06, 5:21 pm in United States Texas Business Law
-
Can I give a loan through my company or personal? Are there laws that prohibit me... Asked 10/30/06, 12:32 pm in United States Texas Business Law
-
Lease I was offer a promotion to start an online business. I sign a 4 year lease for... Asked 10/26/06, 9:13 am in United States Texas Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
