A brief overview of business in the Lone Star State



Especially over the past year, Texas has been championed by a number of economists and political figures as being the ideal environment for business and entrepreneurship.

While the lack of statewide income or property tax - not to mention an intensely anti-tax, anti-regulation culture - may be enticing to entrepreneurs, the state is not without its share of problems.

For example, the state puts its foot down this week on an ongoing debate regarding the collection of sales tax among online merchants by passing a bill that mandates ecommerce companies collect state and local state sales taxes from customers if the company owns at least 50 percent of a business in Texas, according to the Houston Chronicle.

But in the same bill, lawmakers extended a tax exemption on small businesses earning less than $1 million per year.

Also, earlier this week, Texas fell to No. 2 on this year's list of the best business states by CNBC, trailing only Virginia.

Accordingly, entrepreneurs looking to form an LLC in Texas may find a favorable economic environment, but a number of social and educational challenges remain as a result of this year's severely cut budget.

Tags : jurisdictions, operations, small business management, tx
Posted: Jul 1st, 2011
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