Moving Your Small BusinessJobs
Moving your Small Business
We have an inherent entrepreneurial spirit and drive for innovation. The U.S. Chamber of Commerce Foundation even named the Dallas Region the Best Place for Startups. We welcome companies that choose to move or expand into the area. While small business owners already know laws and processes required to form a company, you will benefit from the following resources specific to the Dallas Region.
Resources and Centers to Assist Business Growth and Development
If you are going to start a business here and need help, or if you’d like to apply for funding for your existing business, use the following databases to find helpful resources on government assistance.
Small Business Association: Government-run center for small business owners to receive financing, entrepreneurial development and education, government contracting, and legal advocacy; routinely publish newsletters and guides for relocating business owners
Texas Wide Open for Business: Informational company that can help you find links to governmental support, such as grants or skill development; also offers their own information about relocating your business
America’s Small Business Development Center: Has multiple locations across the country, with each conducting its own research; counsels and trains business people in managing, financing and operating small businesses; provides comprehensive information services and access to experts in a variety of fields
The Dallas Region’s impressive selection of entrepreneur centers, including accelerator programs and incubators, may also prove helpful for a new company. Dallas’ SCORE service, for example, can help you get assistance on an as-needed basis from seasoned small business owners.
Relocating Your Business: Entities, Regulations and Taxes
When considering moving a fully formed business, be prepared for an extensive process. You must find a new space, apply for taxes, inform and prepare your staff, publicize the move to customers (if relevant to business), get new business licenses, and physically make the move.
If you move your corporate offices to Texas, you have one of three options. You may continue as a corporation in your old state and register as a foreign corporation doing business in Texas. Alternately, you can dissolve your corporation fully in your old state and form the corporation again in Texas. Finally, you may do a reorganization, in which you form a new company in Texas and merge it with your existing company.
If you’ve chosen to operate your business as a Limited Partnership, LLC (Limited Liability Company) or a Corporation (Professional and Nonprofit), you will register with the Office of the Secretary of State.
If you’ve chosen to operate your business as Sole Proprietorship or General Partnership, you’ll need to file an Assumed Name Certificate, or DBA (Doing Business As), for the name or names of your business. The county clerk for your business’ area will issue the certificate. If your business will not have a physical location, you must file in every area it will operate.
To check to see if the name you’ve chosen for your business is available in Texas, contact the Office of the Secretary of State.
If your business will be operating out of your home, you must check zoning regulations and product restrictions in order to legally operate.
If your business or product is trademarked, you may need to register it again. Businesses that sell their goods or services only in Texas must register their marks with the state. Those doing interstate business must register federally.
Texas is one of the top 10 states for lowest overall tax burdens, as residents don’t have company tax or individual income tax. Unless your company has a yearly revenue of more than $1,000,000, you may well be exempt from other types of tax as well. For more information, visit Texas Comptroller of Public Accounts.
In the Dallas Region, your business will have tax obligations at a local, state, and federal level. The contact information for local tax obligations will differ per county, but state and federal contacts will remain the same.
- Dallas Taxes: Dallas Central Appraisal District
- State Taxes: Comptroller of Public Accounts
- Federal Taxes: Internal Revenue Service
To obtain Employee Identification Numbers, you can apply for one online. For state and federal employee tax obligations, you will need to contact:
Permits and Licenses
In Dallas City Hall, you can obtain any permit, license, or certificate your business needs. For Dallas’ Building Inspection Division, which ensures your business space complies with local laws, visit its Oak Cliff location.
Governmental Loans, Funds and Incentives
As a small business, you can receive loans such as state/federal incentives, local incentives, and funding companies. Loans help lower the costs of running a small business, so that your company can have a competitive edge in its market when operating or creating jobs.
State and federal loans specific to small businesses include the following:
- Texas Enterprise Fund: Attracts new businesses to the area and assists in their expansion
- Skills Development Fund: Supports educational opportunities for company employees, such as pairing with a university, as well as to promote fair wages
- Texas Small Business Fund: Gives capital loans to promote the growth of innovative companies
- Texas Product Development Fund: Asset-backed lending system
- The Economic Development and Diversification Program: Benefit for relocated businesses that grants in-state tuition waivers to employee’s children
- Data Center Sales and Use Tax Exemption: Exemption for data-specific business centers on their state sales and use tax
- Research and Development Tax Credit: Gives a business the option of no sales tax on products necessary for their research, or franchise tax credit
- Local incentives include the availability of tax abatements for the expansion or investments of a small emerging business.
- The Dallas Regional Chamber can provide more information about these funds, loans and tax incentives. Here you’ll also find descriptions of site-specific incentives, such as foreign trade zones.
Once your company has settled in Dallas, you’ll benefit from finding your place in the small business community. In addition to advice, mentorship and industry connections, networking can help you expand your business’ employee count. Forbes named Texas the best state for future job growth, so rest assured your business can multiply in size should you want it to.