Driven by cross-border trade, a new medical school and significant expansion at the local U.S. Army post, there’s no shortage of reasons to start or grow your business right here in El Paso. For starters, El Paso is the 2nd best performing economy, after moving up in the rankings faster than any other city in the country. The Milken Institute’s 2011 Best-Performing Cities index ranks cities across the nation based on their ability to create and sustain jobs, and overall economic performance. The El Paso region is also home to more than 2.6 million residents and makes up one of the largest bi-national metro areas in the world. Major drivers of the region’s economy include military/defense, international trade and advanced manufacturing. The City of El Paso is here to help you by offering a number of resources to clear the way to help you get started with your business venture.
Although the State of Texas does not impose corporate or personal income taxes, some fo the taxes for which an El Paso business owner could be responsible for include:
State Sales and Use Tax: Businesses that sell products and some service businesses are required to collect State Sales and Use Tax. To obtain a State Sales Tax Permit, contact the following agency in person with picture identification and a Social Security card:
State Unemployment Tax (SUTA): Business that are going to hire employees must contact:
State Corporate Franchise Tax: Corporate franchise tax information may be obtained from: