CCB ENTERPRISES, L.P. - A business based in United States of America (USA) registered with Texas Secretary of State (2024)

FAQs

What is the difference between an LLC and an LP in Texas? ›

LLCs are owned by members and managed by members, managers, or both. An LP is a partnership of one or more limited partners and one or more general partners.

The Texas Secretary of State also runs an online business service called SOSDirect. You can search to see if your business's name is available through this site. However, you must create an account and pay a one-dollar fee for each search.

Non-U.S. corporations, LLCs, LPs and financial institutions must register with the secretary of state before transacting business in Texas. Such entities are subject to state franchise tax and federal income tax on certain income.

An entity's registered agent is an agent of the entity on whom may be served any process, notice, or demand required or permitted by law to be served on the entity.

One significant advantage of an LP is tax savings through pass-through taxation. Similar to LLCs, profits and losses from an LP flow directly to each partner's personal income tax return without being subject to corporate taxes at the entity level.

A limited partnership (LP) is a business entity that requires at least one general partner and one or more limited partners. The general partner has unlimited financial liability, while other partners have liability up to the size of their investment.

Use the Texas Business Name Search

You can search existing businesses in Texas on the Taxable Entity Search page of the Comptroller's website.

The name of a limited liability company must contain the words limited liability company, limited company, or the abbreviation of one of those phrases (i.e., LLC or LC). Adding "LLC" to the end of the business name is the most common way to comply with this rule.

Let's start by checking your LLC status.

Go to the Texas Taxable Entity Search linked here: https://mycpa.cpa.state.tx.us/coa/search.do. You will then enter the name of your LLC in the search. Select the “details” button when your LLC search result appears. Check that the “Right to Transact Business in Texas” is ACTIVE.

Texas LLC Filing Fees

For most people starting an LLC in Texas, the filing cost is $300. If you're forming a nonprofit organization, you can reduce this fee to $25. Veteran-owned businesses also qualify for a reduced filing fee.

How long does it take for an LLC to be approved in Texas? ›

Once you've gathered together all of your information and filed your Certificate of Formation (or had Bizee do it for you), it can take up to a week for the Texas Secretary of State to legally create your LLC. If you pay an additional $50 expedited fee, your LLC can be formed in as few as two days.

A corporation, LLC, LP, or LLP cannot just transact business in states other than its home state. A company doing business in another state needs the other state's permission to engage in business activities there.

Yes- Many business owners who form an LLC serve as their own registered agent. A registered agent is, essentially, someone who you know will be able to receive mail for you. So, yes, you can be your own registered agent, but you might take into account a few things if you do.

A registered agent is simply a person or entity appointed to accept service of process and official mail on your business's behalf. You can appoint yourself, or in many states, you can appoint your business to be its own registered agent.

Most Texas Registered Agent Services cost between $100 and $300 per year. If you're looking to save money and have an address in the state where you can be available during regular business hours, you can be your LLC's Registered Agent. (This can be a home address or a business address).

LLPs are common among licensed professionals such as accountants, attorneys, and architects. Licensed professionals aren't allowed to form LLCs in some states, and an LLP offers a way to avoid unlimited liability for both business obligations and other partners' negligence. .

For example, a major reason for conversion of many limited partnerships to LLCs was to avoid the unlimited liability which the general partner has in the partnerhship. This can be avoided in an LLC.

There are many advantages to creating a partnership. Structurally—like an LLC—a partnership offers business owners a way to share responsibilities and risk. If something were to happen to the partnership, such as major financial losses, the consequences will be distributed across multiple parties.

The LP is required to have an Employer Identification Number (EIN), register with the Department of State, engage the services of a registered agent present in the state where trading and file an Annual Report.