Goodbye, Palo Alto. Goodbye Redwood Shores. Goodbye, San Francisco. See you later, San Jose. The relocation of big businesses from California to Texas almost reads like the lyrics of a country song. Tesla, Oracle, Charles Schwab, and Hewlett Packard are all among the many corporations that have decided to move their headquarters to the great state of Texas in recent years. The low taxes, the business-friendly environment, and the strong workforce in the Lone Star state all combine to make it an attractive destination for corporations of all sizes. While there are many ideal reasons to make a corporate move to Texas, there might be a need for some legal help; lawyers can assist business owners in navigating the legal requirements for moving a company to Texas. Read on to learn more about when you need a lawyer to move a corporation to Texas.
The law of the land. Moving a company to another state means that there are new state laws and legal requirements to consider. These include things like registering your company with the state and obtaining a business license. Once you choose a location in Texas, you will want to register it. If your business is a separate legal entity, you will need to register it with the Texas Secretary of State’s Office in order to do business in Texas. A lawyer can help to ensure you understand and meet the local laws for doing business in Texas.
The art of negotiation. Whether you are renting space from a landlord, buying a building, or working with neighboring businesses, moving a company to Texas can lead to negotiations. Some negotiations might occur over topics like real estate, rent, business incentives, labor costs, or tax breaks. A lawyer can be helpful when it comes to protecting your interests and your corporation when it comes to getting a fair deal.
Taking care of your people. The strong workforce in Texas is one of the biggest benefits for businesses in the state. When you move a corporation to Texas, it is important to comply with the state’s employment laws. Doing business in Texas means being aware of employment laws such as those based on discrimination, child labor, minimum wage, and overtime. There are also other state laws to get familiar with like the Texas Payday Law. Hiring a lawyer can help business owners to understand these laws and to be thorough with compliance.
Taxation with representation. While Texas does have a relatively low corporate tax rate, it is still essential to be aware of any and all taxes your corporation may incur. These include sales tax and property tax. You’ll need to determine the tax responsibilities that your business will have in Texas. State tax filings are done through the Texas Comptroller of Public Accounts. If your business trades online, you’ll need to be aware of the Marketplace Seller tax. You can work with your local county’s appraisal district or tax assessor-collector to learn more about local business and property taxes. A tax attorney can help business owners to understand different tax laws and to ensure that your company is covered.
Protect your property. Your intellectual property is valuable. If your corporation deals with things like patents, trademarks, or copyrights, it is important to protect them when you move to Texas. A lawyer can work with you step-by-step to register your intellectual property.
An extra set of eyes. If your corporate move to Texas involves contracts with new vendors, customers, and employees, enlisting a lawyer to help with contract review can be helpful. An experienced lawyer can help to ensure that contracts are fair and that the interests of your company are protected.
Cover all the bases. Trusted advisors are a wise idea in any big business endeavor. Moving a corporation to Texas—with all of its benefits—can be an overwhelming task. Having a lawyer on your team can help you to navigate many different aspects of the process and avoid expensive mistakes, as you focus on the success of your business. There are different lawyers for different needs including corporate lawyers, employment lawyers, tax attorneys, real estate lawyers, or intellectual property lawyers.
The Texas Economic Development Connection has helped to streamline the process for people who want to move a corporation to Texas. Traditionally, business owners would make many phone calls to local economic development offices all over the state. Owners would have to figure out details like the ideal location or city information through hours of online research. The experts at the Texas Economic Development Connection have created a better approach; they offer access to comprehensive information about your options for moving a business to Texas. They gather data that can help you to make the best choices for your new business location.
Is your location limiting your business growth? Does the state you live in have too many restrictions? Are you fed up with regulations that limit the growth of your business? Move your business to a place that will help you grow: Texas. Set up a call to learn more about how the Texas Economic Development Connection can help to ensure your corporate move is a success.