What is a Veteran Verification Letter (VVL)?
Effective January 1, 2022, you may again form a “new veteran-owned business” as defined by Senate Bill 938 (87th Reg., 2021). A new veteran-owned business is not subject to certain filing fees and the Texas franchise tax for a certain period of time.
The Benefit of the VVL
All qualified veterans will receive a Veteran Verification Letter from the TVC Veteran Entrepreneur Program waiving the $300 registration fee with the Secretary of State and the first five years of state franchise tax with step-by-step instructions on processing their documents with the Secretary of State.
Please note that even though a qualifying new veteran-owned business is NOT subject to state franchise tax for its initial five-year period, the business MUST still file certain reports with the Comptroller of Public Accounts. For more information, visit the Comptroller’s website.