Forming a small business in Texas is an exciting endeavor filled with opportunities and potential for growth. However, it's essential to be aware of the various regulatory bodies and requirements that govern business operations in the state. In this blog post, we'll explore four crucial aspects that small business owners in Texas need to be aware of: the Secretary of State (SOS), the Office of the Attorney General (OAG), the Texas Comptroller of Public Accounts, and the Texas Workforce Commission (TWC).
1. Secretary of State (SOS): The Secretary of State in Texas can significantly affect small business owners by overseeing various aspects of business registration, compliance, and regulation. Their office is vital in facilitating the legal operation of businesses in the state, which can impact the ease of doing business.
2. Office of the Attorney General (OAG): Protecting Your Business and Consumers-
The OAG in Texas is vital in protecting businesses and consumers. Small business owners should be aware of several key areas the OAG oversees:
3. Texas Comptroller of Public Accounts: Managing Business Taxes-
The Texas Comptroller of Public Accounts oversees taxation and revenue collection in the state. For small business owners, understanding your tax obligations is crucial:
4. Texas Workforce Commission (TWC): Navigating Employment Regulations-
For businesses with employees, the Texas Workforce Commission is a critical agency to understand:
Unemployment Insurance: If you are an employer, you may be required to pay unemployment insurance taxes to supply benefits to eligible workers who become unemployed.
In conclusion, running a small business in Texas requires more than just a great product or service – it demands a thorough understanding of the regulatory landscape. The Secretary of State, Office of the Attorney General, the TWC, and the Texas Comptroller of Public Accounts all play essential roles in ensuring fair business practices, proper business forms and filings, taxation, and compliant employment policies. By staying informed and proactive, small business owners can navigate these aspects effectively and lay the foundation for a successful and sustainable business journey in the Lone Star State.
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Attorney Amber K. Cohoon worked for over thirteen years for small business owners. She managed the finances, administration, and all areas of the business for these owners. She opened COHOON LEGAL in 2017 to bring legal services to the majority of business owners that need affordable and effective legal services.
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