LLC Formation in Texas
Authored by Kendall Phillips
Business
12th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step to forming an LLC in Texas?
Choose a Registered Agent
Apply for an EIN
Create an Operating Agreement
File the Certificate of Formation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the cost of filing the Certificate of Formation in Texas?
$400
$200
$100
$300
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Registered Agent in the context of forming an LLC?
A person who provides financial support to the LLC
A person who manages the LLC
A person who accepts all legal papers for the business
A person who files the annual report for the LLC
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of an Operating Agreement in an LLC?
To apply for an EIN
To file with the Secretary of State
To dissolve the LLC
To define the roles and responsibilities of LLC members
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an EIN?
A certificate of formation for LLCs
A tax return form for LLCs
A document required to open a business bank account
A nine-digit number assigned by the IRS to identify taxpayers
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual revenue threshold for LLCs to owe franchise taxes in Texas?
Below $2 million
Below $500,000
Below $1 million
Below $1.5 million
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a No Tax Due Report in Texas?
To file the annual report for the LLC
To dissolve the LLC
To claim tax exemptions for the LLC
To report no tax liability for the LLC
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