Texas Business Opportunities
A Quick Glance at Texas
Texas, whose nickname is The Lone Star State, first obtained its statehood in 1845. With a population of 26,448,193 people, Texas is the second most populated state in the United States.
If you are considering starting your new business in Texas, you might want to look into one of Texas' top three most populous cities - Houston, San Antonio or Dallas and also in the state's capital of Austin.
Top Industry
The largest industry in the state of Texas is oil and gas extraction.
- The gross domestic product (GDP), of this industry, is roughly $127.2 billion and accounts for 7.7% of Texas' GDP.
- Oil and gas extraction also employs 0.7% of Texas' private workforce.
Small Businesses
In the United States, the more than 600,000 plus franchised small busineeses account for 40% of all retail sales and provide jobs for some 8 million people. According to the Small Business Administration (SBA), their standard definition of what constitutes as a small business includes a maximum of 500 employees or operations with and/or up to $7 million in revenue, depending on the industry.
- There are 4.6 million small businesses, in the state, of Texas.
- Small businesses in Texas, make up 34% of the state's private workforce.
State and Local Taxes
Listed below are the state and local taxes, for the state of Texas, and how they rank against other states in the U.S.
State Tax Rate | Avg. Local Tax Rate | Combined Rate | Combined Rank* | Max Local Tax Rate |
---|---|---|---|---|
6.25% | 1.94% | 8.19% | 12 | 2% |
*Combined Rank is rank from highest to lowest tax percentage |
California has the highest state tax rate in the United States at 7.25%, but Lousinana has the highest combined tax rate, overall, at 9.98%. Delaware, Montana, New Hampshire and Oregon share the spot for lowest combined tax rates at 0%.
Additional Information
If you need additional information about how to start a business in Texas, their official state page might be a good place to start. If you are looking to own your own established franchise in Texas, we have collected a comprehensive list of companies that are actively looking to expand in Texas, for you to explore.
References
- By Cqui - Own work, CC BY-SA 2.5
- Census.gov
- Comparison between U.S. states and countries by GDP (nominal) from Wikipedia
- Largest Industry in Each State from 24/7 Wall St.
- Civilian Labor Force and Unemployment by State from the U.S. Bureau of Labor Statistics
- State and Local Sales Tax Rates in 2017 from the Tax Foundation
City and County Level
- Abilene
- Addison
- Alamo
- Alamo Heights
- Allen
- Alpine
- Alvarado
- Alvin
- Amarillo
- Anderson County
- Andrews
- Andrews County
- Angelina County
- Angleton
- Annetta
- Aransas County
- Argyle
- Arlington
- Austin
- Austin County
- Azle
- Balch Springs
- Bandera County
- Bartonville
- Bastrop
- Bay City
- Baytown
- Beaumont
- Bedford
- Bell County
- Bellaire
- Belton
- Benbrook
- Bexar County
- Big Spring
- Boerne
- Bosque County
- Brazoria County
- Brazos County
- Brenham
- Bridge City
- Brownfield
- Brownsville
- Brownwood
- Bryan
- Buda
- Bulverde
- Bunker Hill Village
- Burkburnett
- Burleson
- Burnet
- Calhoun County
- Cameron County
- Canyon
- Carrollton
- Carthage
- Cedar Hill
- Cedar Park
- Chambers County
- Clay County
- Cleburne
- Clute
- College Station
- Colleyville
- Collin County
- Colorado County
- Columbus
- Comal County
- Conroe
- Converse
- Cooke County
- Coppell
- Copperas Cove
- Corinth
- Corpus Christi
- Corsicana
- Crockett
- Crowley
- Dallam County
- Dallas
- Dallas County
- Deer Park
- Del Rio
- Denison
- Denton
- Denton County
- DeSoto
- Dickinson
- Donna
- Double Oak
- Dumas
- Duncanville
- Eagle Pass
- Eastland County
- Ector County
- Edinburg
- El Campo
- El Paso
- El Paso County
- Ellis County
- Ennis
- Euless
- Fairview
- Farmers Branch
- Fayette County
- Flatonia
- Flower Mound
- Fort Bend County
- Fort Stockton
- Fort Worth
- Fredericksburg
- Freeport
- Friendswood
- Frisco
- Gainesville
- Galveston
- Galveston County
- Garland
- Garza County
- Gatesville
- Georgetown
- Gonzales
- Granbury
- Granite Shoals
- Grapevine
- Grayson County
- Greenville
- Gregg County
- Guadalupe County
- Haltom City
- Hamilton
- Harker Heights
- Harlingen
- Harris County
- Harrison County
- Hays County
- Hearne
- Henderson
- Hewitt
- Hidalgo County
- Highland Park
- Highland Village
- Hill Country Village
- Hilshire Village
- Hood County
- Hopkins County
- Houston
- Humble
- Hunt County
- Hunters Creek Village
- Huntsville
- Hurst
- Irving
- Jacksonville
- Jasper
- Jefferson County
- Jersey Village
- Johnson County
- Katy
- Kaufman County
- Keller
- Kemah
- Kendall County
- Kerr County
- Kerrville
- Killeen
- Kingsville
- Krum
- Kyle
- La Grange
- La Porte
- La Salle County
- Lacy Lakeview
- Lago Vista
- Lake Jackson
- Lakeway
- Lamar County
- Lamesa
- Lampasas
- Lancaster
- Laredo
- League City
- Leander
- Leon Valley
- Levelland
- Lewisville
- Liberty County
- Littlefield
- Live Oak
- Livingston
- Lockhart
- Longview
- Lowry Crossing
- Lubbock
- Lubbock County
- Lucas
- Lufkin
- Mansfield
- Manvel
- Marble Falls
- Marshall
- Matagorda County
- Maverick County
- McAllen
- McKinney
- McLennan County
- Mesquite
- Midland
- Midland County
- Midlothian
- Mission
- Missouri City
- Mount Pleasant
- Nacogdoches
- Nacogdoches County
- Nassau Bay
- New Braunfels
- Newark
- Niederwald
- North Richland Hills
- Nueces County
- Oak Ridge North
- Odessa
- Orange
- Orange County
- Overton
- Palacios
- Palestine
- Pampa
- Panola County
- Pantego
- Parker County
- Pasadena
- Pearland
- Pecos County
- Perryton
- Pflugerville
- Plainview
- Plano
- Port Aransas
- Port Arthur
- Port Lavaca
- Portland
- Potter County
- Prosper
- Quintana
- Randall County
- Red Oak
- Richardson
- Richland Hills
- Rio Grande City
- River Oaks
- Rockport
- Rockwall
- Rockwall County
- Rosenberg
- Round Rock
- Rowlett
- Royse City
- Rusk
- Rusk County
- Sachse
- Saginaw
- San Angelo
- San Antonio
- San Benito
- San Jacinto County
- San Marcos
- San Saba
- San Saba County
- Santa Fe
- Schertz
- Seabrook
- Sealy
- Seguin
- Selma
- Seymour
- Shady Shores
- Shenandoah
- Sherman
- Smith County
- Smithville
- Snyder
- Socorro
- Somervell County
- Sonora
- Southlake
- Southside Place
- Spring Valley
- Stafford
- Stephenville
- Sugar Land
- Sulphur Springs
- Sunnyvale
- Sweeny
- Tahoka
- Tarrant County
- Taylor
- Taylor County
- Temple
- Terrell
- Texarkana
- Texas City
- The Colony
- The Hills
- Titus County
- Tom Green County
- Tomball
- Travis County
- Trophy Club
- Tyler
- Universal City
- University Park
- Upshur County
- Uvalde County
- Victoria
- Victoria County
- Waco
- Walker County
- Waller County
- Washington County
- Watauga
- Waxahachie
- Weatherford
- Webster
- Weslaco
- West Lake Hills
- West Orange
- West University Place
- Westlake
- Weston
- Westover Hills
- Wharton
- White Oak
- White Settlement
- Wichita County
- Wichita Falls
- Wilbarger County
- Williamson County
- Willow Park
- Wimberley
- Windcrest
- Winkler County
- Wise County
- Woodway
- Wylie
- Yoakum