More than 35,000 new veterans call Texas home each year. Many transition directly into the thriving workforce while others redirect their skills and passion to achieving their dream of small business ownership. The Veteran Entrepreneur Program team of business consultants provide training, education and connections to help every veteran navigate through the processes of planning, launching and growing their business. Our team of consultants are veterans, business owners, and MBA graduates dedicated to your success.
Few veterans are fully aware of the wealth of resources available to help entrepreneurs achieve business success. These resources are available through the Federal Government, the State of Texas, and many local municipalities and non-profit organizations. The VEP works closely with these partners to ensure veteran entrepreneurs can connect and leverage these relationships.
The VEP team can assist with a myriad of typical business start-up needs such as; funding sources, regulatory considerations, business formation, franchising, business plan development, government contracting, and so much more. Since the program inception the VEP has assisted over 3,000 veterans with their dreams of business ownership. Why shouldn’t you be next?
- Senate Bill 1049 - Verification of new veteran owned business, benefits and process
Senate Bill 1049
Are you interested in learning more about how you can save money when you incorporate your business entity with the Texas Secretary of State? For example, you can save up to $300 when incorporating an Limited Liability Company (LLC) with the Texas Secretary of State through Senate Bill 1049. If so, let us show you how!
Effective January 1, 2016, the state of Texas passed Senate Bill 1049, which waives the incorporation fees for qualified new-veteran owned businesses formed on or after this date and provides a five-years franchise tax exemption for the newly formed veteran-owned business. To qualify for Senate Bill 1049, your business entity must meet the following requirements:
- The newly formed entity must be 100% veteran-owned; AND,
- All veteran(s)-owners are honorably discharged from active duty from any branch of the United States Military.
If these two requirements are met, then you may proceed towards the three-step verification process, which begins with initiating the verification process with the Texas Veterans Commission. FYI – you must start here first before contacting the Texas Secretary of State and the Comptroller.
Download the Letter of Verification instructions
NOTE: Request a refund if you successfully registered your business after January 1, 2016 but paid the filing fee because you didn’t use a letter of verification.
If you registered your business entity after January 1, 2016 and meet the eligibility requirements for Senate Bill 1049; you may be eligible for a refund of the filing fees paid directly to the Texas Secretary of State. This may not apply to businesses formed via a third-party service provider. Check with the Secretary of State for eligibility.
Follow the procedures below to apply for a refund of your filing fees:
- Obtain your “Letter of Verification (SB 1049)” from the Texas Veterans Commission;
- Download and Complete the “Certification of New Veteran-Owned Business (05-904)” form.;
- Create a packet with copies of the documents listed in 1 and 2, and attach a copy of your SOS incorporation paperwork/receipt.
- Mail packet to:
Secretary of State
Attn: Legal
P.O. Box 13697
Austin, TX 78711-3697
- Veteran Entrepreneur Outreach and Advocacy
Veteran Entrepreneur Seminar Series
Each year the Veteran Entrepreneur Program travels to different cities within the state of Texas and engages in a variety of seminars in partnership with local resources to provide relevant and localized business information, training, and resource connections. The seminar series provides veteran entrepreneurs and their families an opportunity to connect with local resources, advance their business skills and acumen, and connect with other like- minded veterans in their city.
Partnering with a vast network of subject matter experts, the VEP seminar series’ content may include topics on business plan development, funding options, target marketing, financial knowledge, government contracting, franchising, and business planning. This allows the veteran to identify early on, the skills needed to manage a start-up business as well as identify those areas that may present challenges to the business, requiring further consideration and development.
