If you’re starting a new business or changing the current structure of an existing business, creating a Texas Limited Liability Company or LLC offers some great advantages.
The benefits of a Texas Limited Liability Company include:
A Texas Limited Liability Company (LLC) combines some of the benefits of both corporations and partnerships.
The personal assets of the owners are protected. If the LLC is sued the assets of the business may be at risk, but the personal assets of the LLC members are protected and cannot be touched.
Forming a Texas Limited Liability Company can provide your business with significant tax benefits. Operating costs and capital expenditures can be deducted from tax obligations as can the depreciation of company assets. Texas also allows LLC’s to choose a federal tax structure – either operating as a corporation or a partnership.
When your company name is registered with the Texas Secretary of State it is protected from use by any other Texas company. This ensures the protection of your company brand and reputation.
A Texas Limited Liability Company is not subject to the record-keeping requirements of most other corporate entities. There is no requirement that meeting minutes and similar be recorded and maintained.
Texas Secretary of State support is ongoing for Texas Limited Liability Companies.
Give us a call and we’ll be happy to answer your questions and find the right corporate entity for your new or existing business.