Expert legal guidance for Texas small businesses. Fleischmann Legal Group provides comprehensive LLC formation, succession planning, and asset protection services throughout Fort Worth, Dallas, Collin, and surrounding counties.
If you're considering starting a business in Texas, you might be wondering about Limited Liability Companies (LLCs). What are they? How do you set one up? What do you need to know to manage one effectively? This guide is designed to answer the real questions people ask about LLCs in Texas, providing clear, practical information without the sales hype. Whether you're a first-time entrepreneur or an established business owner, here's what you need to know about LLCs in the Lone Star State.
An LLC, or Limited Liability Company, is a business structure that combines the simplicity of a partnership with the liability protection of a corporation. In Texas, it's a popular choice because it protects your personal assets—like your house or savings—from business debts and lawsuits, while also offering flexibility in how your business is taxed and managed.
A big reason people choose LLCs is asset protection. In Texas, an LLC separates your personal stuff from business risks, but there's more to it.
If you mix personal and business funds, a court might "pierce the veil," holding you personally liable. Texas favors LLCs, but you've got to play by the rules.
Succession planning means preparing for what happens to your LLC if you retire, can't work, or pass away. It's about keeping your business running smoothly no matter what.
In Texas, your company agreement is key—it legally locks in your succession plan. Review it every few years as your business evolves.
So, how do you actually get started with an LLC in Texas? Let's break it down.
Setting up an LLC in Texas involves a few straightforward steps. Here's a step-by-step look at the process, along with some pitfalls to watch out for.
