BL Unit VI Mini Project: How to Start A Corporation in Texas, United States of America

How to Start A Corporation in Texas, United States of America
Name
Institution
Introduction
Starting a corporation/business in Texas is one of the most challenging ideas most entrepreneurs find in the United States of America. This is due to the pre-conceived ideas of the complexities associated with the requirements, which one has to adhere to establish a successful corporation. However, with expertise guidance, starting a corporation in the Texas can be made simpler more than the way most people perceive. Therefore, this essay tries to establish a corporation to the Smith family in the Texas. The process is done taking into consideration the laws and regulations set by laws of the Texas state and those of the local authorities.
Part I. description of the process needed to be completed for the documents to be accepted by the Texas Authorities
The first step I will take in quest of establishing a corporation in the Texas is determining the nature of the business structure the Smith bothers wish to start in the Texas. Determining the structure of the business helps in designing the basic legal structure of the business. The process entails recording a most suitable business name with the Texas State. The name should be unique and not used by any other corporation in the Texas. Unlike other business such as general partnership and sole proprietors which are registered in the county level, corporations like the one I will be establishing is registered at the Texas Secretary of State. However, filling the form is made easy since it can be done by filling the requirements form using the inline methodologies. It is imperative that I take into consideration the legal requirements required for establishing a corporation to provide protection for the business owners assets and liabilities likely to affect the business ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"YdFlet2g","properties":{"formattedCitation":"(Bessette, Jr, Brown, Langenegger, & Garcia, 2011)","plainCitation":"(Bessette, Jr, Brown, Langenegger, & Garcia, 2011)"},"citationItems":[{"id":201,"uris":["http://zotero.org/users/1602154/items/GRUA866E"],"uri":["http://zotero.org/users/1602154/items/GRUA866E"],"itemData":{"id":201,"type":"book","title":"American Government and Politics: Texas Edition: Deliberation, Democracy and Citizenship, Texas Edition","publisher":"Cengage Learning","number-of-pages":"1012","source":"Google Books","abstract":"American Government and Politics, Texas Edition asks students to consider what U.S. citizenship really means. Unique chapters on citizenship and civic culture focus on the issues of civic participation and the implications of good citizenship. Combined","ISBN":"0495905887","shortTitle":"American Government and Politics","language":"en","author":[{"family":"Bessette","given":"Joseph M."},{"family":"Jr","given":"John J. Pitney"},{"family":"Brown","given":"Lyle C."},{"family":"Langenegger","given":"Joyce A."},{"family":"Garcia","given":"Sonia R."}],"issued":{"date-parts":[["2011",1]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Bessette, Jr, Brown, Langenegger, & Garcia, 2011).
Secondly, I will consider evaluating and complying with the different tax requirements of the new business. This includes taking into consideration tax obligations from the federal government, which provides corporate tax numbers, tax credits, and tax regulations related to the employment within the Texas State. Additionally, it will entail taking into consideration the State taxes collected by the Controller of the Public accounts. Local taxes such as business taxes will also play a role in the plan of establishing the corporation. This includes taxes based on personal property used for income generation such as inventories, machinery, and equipment ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"JODJy4be","properties":{"formattedCitation":"(Mann, 2013)","plainCitation":"(Mann, 2013)"},"citationItems":[{"id":199,"uris":["http://zotero.org/users/1602154/items/7MBRH3GQ"],"uri":["http://zotero.org/users/1602154/items/7MBRH3GQ"],"itemData":{"id":199,"type":"book","title":"Business Law and the Regulation of Business","publisher":"Cengage Learning","number-of-pages":"1346","source":"Google Books","abstract":"Praised by students for its accurate and straightforward coverage of the law, BUSINESS LAW AND THE REGULATION OF BUSINESS illustrates how legal concepts can be applied to common business situations. This book's comprehensive, yet succinct approach provides the depth of coverage ideal for business success and CPA exam preparation without the technical jargon. Choose Mann/Roberts' BUSINESS LAW AND THE REGULATION OF BUSINESS, 11TH EDITION for the business law presentation you can trust, understand, and retain for long-term business success.","ISBN":"1133587577","language":"en","author":[{"family":"Mann","given":"Richard A."}],"issued":{"date-parts":[["2013",1,16]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Mann, 2013).
Thirdly, I will consider registering the corporation with the State of Texas to be provided with tax permit. This entails acquiring a license for paying taxes that include franchise taxes, and paying commission to the environmental quality department due to increased possibility of the corporation contributing to environmental pollution. Fourthly, I will ensure that the corporation put in place measures required for meeting the employer requirements as stated by the state and federal laws. This includes considering the labor, tax, and safety obligations that employers should pay to the federal and the state government. However, the requirements vary depending on one's abilities. For example, the tax levied to the disabled entrepreneurs varies from that levied to those without disabilities. Some of the documents required by the state include a declaration form from the business owners, verification of various documents such as those of identification and beneficiaries ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"lfs796ZV","properties":{"formattedCitation":"(Evans, 1995)","plainCitation":"(Evans, 1995)"},"citationItems":[{"id":197,"uris":["http://zotero.org/users/1602154/items/JNPJITGU"],"uri":["http://zotero.org/users/1602154/items/JNPJITGU"],"itemData":{"id":197,"type":"book","title":"Texas Business Law","publisher":"Pelican Publishing","number-of-pages":"740","source":"Google Books","abstract":"This landmark volume covers the length and breadth of the law as it applies to business in Texas and offers invaluable guidance to every businessman and business student in the state. Its chapters deal with every aspect of law affecting the business community, including the following: - Introduction to Law - Courts and Court Procedures - Contracts - Personal and Property Relationships - Commercial Paper - Sale and Transportation of Goods - Secured Transactions - Business Regulation - Business Organizations - Real Property - Trusts and Estates The Texas Business Law Teacherís Guide is available upon adoption of the textbook.","ISBN":"9781455612871","language":"en","author":[{"family":"Evans","given":"Don Alan"}],"issued":{"date-parts":[["1995",1,1]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Evans, 1995).
Part B. draft of the Corporation
Corporation name: Smith Brothers and Sons Automotive,...