Contributions on the formation of the partnership are not taxable unless there is a disguised sale or the partnership is relieved from debts. Partners may deduct their shares of partnership losses subject to their basis limitations, but the partnership debt is included in calculating the basis. Distributions are not taxable to the extent of a partner's tax basis in the partnership interest. The liquidation of a partnership is not taxable to a partner to the extent of the partner's tax basis in the partnership interest. Partnerships are not subject to the Texas franchise tax.
Many states have mechanisms for a foreign limited partnership to qualify to do business there.
If you plan to have your limited partnership do business outside the State of Texas, you should speak with an attorney in that state who is experienced with its laws and regulations concerning foreign partnerships. Do your paperwork. Also, there must be some form of partnership agreement defining everyone's roles, rights, and duties. An oral agreement is only as good as the audience's memory. A written agreement is probably a better idea.