Anybody have their business as a sole proprietor?

You'll need an address in Texas, all i needed to do to create my sole proprietor LLC was register it for an EIN # and register with my state. Really nothing difficult to it.

 

Yes I did it for the first year or two, it wasn't an issue because I ran it all at a loss.

Why Texas?

State taxes?

I would not even worry about it, if you do it right, your tax liability will be low.

And you need a good accountant. You will need a lawyer for legal advice and to review contracts.

 

Be aware if you move to Texas, some counties charge property tax on commercial vehicles.

 

Texas is going to hit you with different personal property taxes in whatever county.

 

Tx has a lot of freight , LOW RATE Loads...

 

I did some proprietor for 3 years. But I was tired of being broke all the time. And than still having to pay to the IRS. Good way to go broke, when you have a used truck and get paid about $1 per dispatched mile.

 

First thing should be to setup your LLC.

Then have a tax election, be most likely first year will be sole proprietor.

After you start profiting more than 50-60k , consider going to S Corp Tax structure.

There's much more to it and you really need to speak with a tax attorney and/or your CPA.

 

Texas as mentioned has taxes, they recover their lost revenue through different means. I bought up a fleet from two different operating areas of Texas and they were taxed more than I pay for income tax in my state, moving it to Michigan made better sense.