Starting a new business comes with its challenges, but if you’re a veteran in the state of Texas, there’s a unique opportunity to ease the burden. The Texas Veterans Commission Veteran Entrepreneur Program offers a Veteran Verification Letter (VVL), a powerful tool that not only recognizes your service but also provides tangible benefits. In this blog, we’ll walk you through the step-by-step process of obtaining a
VVL and unlocking significant cost-saving advantages.
Eligibility Check
Before diving into the application process, ensure you meet the eligibility criteria for the Veteran
Verification Letter. To qualify, you must have:
– An Honorable/General Under Honorable US Military Discharge
– 100% Veteran-Owned (can be more than one veteran owner)
– A new entity formation between January 1, 2022, and December 31, 2025
Step 1: Requesting a VVL
1. Visit the Texas Veterans Commission website.
2. Click on the “Connect with a Business Consultant” button to initiate the process.
3. Complete the three-part questionnaire provided by the Texas Veterans Commission.
Step 2: Information Gathering
Prepare the following documents before initiating contact with a Business Consultant:
– DD214 – Member 4 or Service Copy 2: Ensure it shows discharge status.
– VA Letter of Service Disability: Must include branch of service, dates of service, and discharge status.
– NGB22 (Texas National Guard Only): For Texas National Guard members.
– Verification of any name changes: Include relevant documents like Marriage Certificates,
Divorce Decrees, etc.
Step 3: Contact with a Business Consultant
After completing the questionnaire, a Business Consultant from the Texas Veterans Commission will contact you directly. Be ready to share the gathered information and discuss your business plans.
Benefits of the Veteran Verification Letter.
Upon successful verification, you’ll receive a Veteran Verification Letter. This document holds significant advantages for your new business:
-Waived $300 Registration Fee: Say goodbye to the initial registration fee with the Secretary of
State.
-Five Years of State Franchise Tax Exemption: Enjoy the first five years of your business without the burden of state franchise tax.
Conclusion
Obtaining a Veteran Verification Letter through the Texas Veterans Commission can be a game-changer for your new business. Not only does it recognize your military service, but it also provides substantial financial benefits. Follow the steps outlined in this guide, and you’ll be on your way to unlocking opportunities that will make a meaningful difference in the early years of your entrepreneurial journey.
This is a great first step towards many more to come.
Thank you for your service, and best of luck with your new venture!
Please do not hesitate to reach out to EGBI’s Business Coach and Veteran Services Coordinator Monica
Perras at perras@egbi.org or call her directly 737-239-0221. A business coaching appointment is at no
cost due to a contract with the City of Austin.
Find the Spanish version here.