Setting Up Legal Entities
Texas Business Attorneys
Setting up a new legal entity is a complex business endeavor that requires the expertise and skillset of a Texas business attorney at Esani & Momin. If you or someone you know are struggling to set up or work with your new legal entity, contact our attorneys to begin building your defense.
Different legal entities available for you and your business include, along with the advantages:
- Sole Proprietorship or “Doing Business As”
- You remain personally liable for lawsuits against your business
- Not only easy to form, it’s also easy to operate
- Report your business profit and loss on personal tax returns
- Do not have to worry about state filings to form your company
- Limited Liability Company (LLC)
- Legal structure is independent from its owners
- No limit on the number of owners
- No annual meetings
- Governed by an operating agreement
- Separates your personal assets from company debt
- Taxed similarly to a partnership or sole proprietorship
- Partnerships
- No state filing requirements
- You and all owners report their own shares of profit or loss on personal income tax return
- Easy to form and operate a business type
- You and your partner will be held liable for lawsuits filed against the business
A Texas business attorney can help you go through your business plan and determine what is the best entity for you and your new business. The skilled Texas business lawyers at Esani & Momin are prepared to help you with their years of experience in order for you to have a successful business. With the many questions you will have in setting up your legal entity, having an attorney by your side can help to guide you through this difficult process. Contact our office today to schedule a confidential case consultation.
