To form a corporation in Texas, there are several steps you must take. Hire Ryan Reiffert, Texas corporation attorney in San Antonio, to help.When calculating the percent ownership of a corporation, do not count the authorized shares. Instead, focus on the number of issued shares. "Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. You must list the number of shares of stock you are authorizing at this time. Authorizing shares of stock is the process of creating shares. Yes. Certificates of formation can be filed online through SOSDirect 24 hours a day, 7 days a week. Article 4: Authorized Shares. Shares represent ownership interest in the corporation.