The business formation process is essential to starting a business. With the Carrollton business formation lawyers at Auten & Willingham, P.C., you can receive experienced assistance for navigating the complicated legal process. Our team possesses a thorough knowledge of Texas business formation laws and can help you understand the specific federal and state requirements regarding your business.
Call today at (214) 643-8757 for dedicated legal assistance.
A sole proprietorship is often the least expensive and simplest type of business to form, and you do not need to file incorporation documents or run a business notice in the newspaper. With a partnership, you still do not need to file any documents with the state, but you may need to draft a partnership agreement. This sets out how profits and losses are shared as well as how the partnership operates overall.
Limited Liability Companies provide owners, also known as members, with limited liability protection. This means that the liability company is for the most part responsible for debts and business bank accounts instead of individual members. Corporations also provide limited liability for their owners and are formed by filing Articles of Incorporation with the state’s department of corporation.
In the state of Texas, the first thing to do when forming a business is often to choose a name. You may need to follow specific requirements when creating your business name. For example, if you are forming a Limited Liability Company, you must include some form or abbreviation of the words “Limited Liability Company” in your business name in order to comply with state regulations.
The next step is often to file a Certificate of Formation with the Secretary of State. This usually applies to LLCs and can be filed online or by mail with a $300 filing fee. You must also make sure your business complies with tax and regulatory requirements, which may involve IRS Employer Identification Numbers (EINs), business licenses, and in some cases the Comptroller of Public Accounts. At Auten & Willingham, P.C., our Carrollton business lawyers can help make sure your business meets the requirements and can answer your questions throughout the process.
Ready to get started? Call today at (214) 643-8757 for a free consultation. We serve Dallas, Denton, and Collin Counties.