Welcome Joey. Talk to YOUR accountant.
Do it right now. By hiring YOUR accountant, it will cost you something NOW , but will save you BIG later on
(with taxes, penalties and interest).
For those who understand, no explanation is needed. For those who do not understand, no explanation is possible.
Good luck, LUCKIEST
This page seems to indicate that single-member LLCs domiciled in Texas are subject to the franchise tax (see the first bullet point under Item 2). But I'd suggest that you continue to research this and related pages from the Texas revenue department for more info.
Re your second question, your business revenues and expenses incurred under your LLC will be reported on your Schedule C within your 1040. Other items incurred within your LLC would be reported in the appropriate place in your 1040. For example, if your LLC earns any interest income, it'd be reported on your Schedule B. Similarly, rental income and expenses earned inside of your LLC would be reported on a Schedule E within your 1040.
I am new to this forum but im hoping to get some advice. I recently established a PLLC and then I attained my EIN/TIN which then categorized my llc as a 'disregarded entity'. Do I have to file a annual franchise tax report or pay annual franchise taxes. I live in Texas and cannot seem to get a straight answer from anyone. Any advice would be great.
Another question...As a disregarded entity-single member llc, do i file my annual expenses/profits etc. under schedule C of my personal income tax?
Again, any information will be greatly appreciated