Hi! You may have heard of the new benefits that remove barriers for veterans who want to form a business. Effective January 2022, the benefit waives the formation fee for new 100% veteran-owned business entities and relieves veteran-owned businesses of the Texas franchise tax for the initial 5-year period. Will your business qualify? If you answer “yes” to these questions, it may:
- Will this entity be 100% veteran-owned (can be one or more veteran owners)?
- Is/Are the veteran business owner(s) honorably discharged from active military duty, from any branch of the United States military, National Guard or Reserves?
- Will this entity be formed between the dates of January 1, 2022, through December 31, 2025?
Download the New Veteran-Owned Business Pre-Qualification Process to learn more.