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Limit of Liability This guide has been created as a public service for new business owners. It is not a legal document and APS assumes no responsibility for actions taken by individuals who follow the outlines of this document.
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New Business Guide
It's a big part of the American Dream. Owning your own business means you are making money for yourself, not your boss. It also means that you will not be able to clock in at 8am and leave for the day at 5pm. Long hours are just one of the responsibilities of owning your own business.
Are you planning on starting a new business in Hidalgo County, Texas? There are many things to be aware of and steps to take in order to assure your new business will be legal, protected and successful. First and foremost is to be organized! Determine if your business has a chance ... do research and find out if your 'great idea' is really all that great!
Go to the U.S. Small Business Administration's webpage for some very good points to ponder and a 'small business start-up kit' to help you along the way.
You're going to do it, now what's next?
Use the following checklist to plan and track your business start-up progress.
1). Prepare a written business plan and financial statements. Be sure to consult with your financial advisor team (accountant and lawyer) before taking this important first step. Once you have written up a preliminary draft, review it with your advisors to get their expert advice.
2). Decide on your company's Business Organization. Will your new venture will operate as a sole-proprietorship, Corporation, Limited Liability Company or Non-Profit Organization? For more information about these options click here. Obtain the proper incorporation documents from the Texas Secretary of State If your business is already incorporated in another state, contact the Secretary of State for the proper documentation to do business in Texas.
3). Apply for a Federal Employer Identification Number (EIN). Contact your IRS or Social Security office and request form SS-4. You can apply on-line by clicking here. By phone, call the IRS TELE-TIN hotline Toll-Free: 1-866-816-2065 (Philadelphia, PA.).
4). Apply for a Texas State Sales Tax Number. Contacting the State Comptrollers Office at 3231 North McColl Road, McAllen 78501 or 956/687-9227.
5). Contact the Texas Workforce Commission 1108 Pike Blvd., Weslaco, TX 78596, (956) 447-4416, (512-804-4700 in Austin) for all materials pertaining to this state regulatory department.
6). Contact the Workers Compensation Commission Determine what is required for your business' compliance with the Workers Compensation Act. Telephone: 512-804-4100 (Austin).
7). Contact your city's municipal offices. Find out if there are any local registration or license requirements. The city hall/code enforcement office telephone numbers are as follows, area code (956):
8). Working from home? Make sure you are compliant by contacting the Hidalgo County Code Enforcement Office.
9). Contact the Bureau of Labor Standards Make sure you are in compliance with the Occupational Safety and Health Act (OHSA).
More 'Starting a Business in Texas' links: Texas Taxes: Comptroller of Public Accounts. Texas Business Licenses and Permits: Texas Economic Development Office of Small Business Assistance: Texas Economic Development More Planning Tips are provided at the Texas Business Advisor Webpage. State and local economic data: Business and Industry Data Center Labor Force Statistics: Texas Workforce Commission Hidalgo County webpage Rio Grande Valley Partnership Website
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“God is with you in everything you do” Genesis 21:22 |
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