Texas LLC Form 807: Everything You Need to Know
Texas LLC Form 807 is a payment form used when transmitting credit card or client account information.3 min read
Texas LLC Form 807 is a payment form used when transmitting credit card or client account information. When forming an LLC in the state of Texas, a fee is required to process your documentation. Although this is an initial investment, it is a requirement for all Texas-based LLCs. If you are currently in need of Form 807, this is what you need to know. this
Texas LLC Laws
In January of 2010, the Texas Limited Liability Act was replaced by the Texas Business Organizations Code (BOC). This code applies to all LLCs or other business entities which were formed in Texas, regardless of when. In regards to the BOC, four types of LLCs currently may be formed and operated in the state of Texas. These include domestic, nonprofit, series, and professional.
Domestic Texas LLC
To form a business in Texas, you must first file a certificate formation based on Section 3.005 of the BOC. This will require some basic information, including:
- The name of the entity.
- The type of entity you would like to form.
- The purpose of your business.
- The period of the entity's duration (or documentation that it is perpetual).
- The names and addresses associated with the organizers and agents of the entity.
When forming an LLC, you also need to state whether or not the company will be managed by its members or be a selected manager (or managers). If someone is selected to manage the LLC, their name and address must be included when initially filing.
This process is complete once the certificate is officially filed with the secretary of state. You will also need to include the filing fee, which, as of 2010, is $300. Currently, this step can be completed online via SOSDirect.
Texas Series LLC
In the year 2009, the state of Texas became the eighth state that allows the formation of what's known as a series LLC. Within this special type of LLC, more than one series may be formed and established. Often referred to as cells, each "cell" has its own members, managers, assets, and additional membership interests.
The idea behind a series LLC is that this approach helps reduce potential liability issues. If there is an issue with one cell, it will not impact the profitability of other cells. An example of this would be owning various parcels of real estate. In order to form a series LLC, the organizer must include a notice of intention when filing a certificate of formation.
Form 409 — General Information (Articles of Amendment - Limited Liability Company)
Based on Article 3.05 of the Texas Limited Liability Company Act, an LLC may alter their articles of organization as they wish. This includes changing the name of the LLC, changing its period of duration, changing its overall purpose, and more. However, if extensive changes are required, the LLC should consider filing the restated documentation to article 3.09 of the Texas Limited Liability Act.
To file, you must pay a fee of $150. These fees can be paid via personal check, money order, debit, or credit. If you decide to pay via money order or check, this must be completed at a financial institute. Payment will be made to the secretary of state. If you opt for a credit card payment, a convenience fee of 2.7 percent of the total will be applied.
Submit your documentation (along with the required fee) to P.O. Box 13697, Austin, Texas 78711-3697.
You can also fax to (512) 463-5709 (if you choose this option, you must also send your credit card information via Form 807). Additionally, you can deliver to the James Earl Rudder Office Building, located at 1019 Brazos, Austin, Texas 7870.1
Whether you are forming a professional LLC or a nonprofit LLC, you need to ensure that all of the proper steps are taken to ensure long-term growth and success. If you are unsure about how to approach this initial step, it is highly recommended that you seek a professional opinion. That way, you will be able to legally operate your LLC in the state of Texas and remain in good standing moving forward.
If you need help filing your Texas LLC Form 807, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.