Starting a Business in Texas: Texas Business Formation & Selecting a Business EntityBy James Blake on
An entrepreneur starting a business often has specialized knowledge or experience in a field. Yet the question of how to start a company with the right business planning requires the skill of a company formation lawyer. A Texas business lawyer will review your business plan, and help your start up business choose the right company formation structure, partnership agreements and investor agreements, business tax strategy, and asset protection plan.
Limited Liability, Asset Protection & Business Tax
Incorporation or limited liability company formation is fairly common for many entrepreneurs that start a business. But, you should choose the best asset protection structure for your start up business plan, which might also include partnership, limited partnership, business trusts, family limited partnerships, or others. Business planning for taxes also requires important decisions. For example, a limited liability company (LLC) can be taxed as a partnership, as an S Corp, or as a C Corp. Sometimes, the best business plan also requires multiple business entity formations to get the best business tax results and asset protection. A Texas business lawyer can help you evaluate the various Texas business entities and business formation structures available to your start up business.
Start Up Business Formation Documents
To start a company, you not only need company registration with the state, you also need good company formation documents, which might include a shareholder agreement, operating agreement, articles of incorporation, bylaws, partnership agreement, buy sell agreement, non-compete agreement, and others. When an entrepreneur attempts to draft these without a Texas business lawyer, or with the help of the internet, big problems often remain hidden like a time-bomb until a later date. Get an Texas business lawyer who understands both business and law to make sure that your documents will protect your assets and enable business growth for years to come.
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