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Introduction | Information TEXAS A Texas LLC is a hybrid entity that does not pay any federal income taxes while providing limited liability protection for all its members. For federal tax purposes an LLC is a pass-through entity: its income, profits and losses are taxed only at the ownership level. Whilst not ‘offshore’ Texas is still attractive to non-resident investors. An LLC may have an unlimited number of members or as few as one. Its membership interests may be held by corporations, partnerships, non-resident aliens, trusts, pension funds or charitable organisations. An Operating Agreement is mandatory. It is entered into by the LLC and its owners to define their duties and responsibilities to each other. Its popularity as a place for incorporation is due to the attractive tax benefits to non-US investors. As an American state, it has the advantage of numerous US double tax treaties and is of course not perceived as a "tax haven" jurisdiction for trading company purposes. Civil Law system Onshore territory Unquestionable Limited Liability status Flexible operating No minimum capital requirements No stamp duty No disclosure of beneficial owners No filing of accounts No personal liability of members Name must be unique Meetings not required