The benefits of establishing a Limited Liability Company in Texas
If you’re thinking of starting a new business in San Antonio or changing the structure of an existing business, creating a Limited Liability Company (LLC) in Texas can offer several advantages.
With the help of an experienced business attorney, you can set up and enjoy an LLC that combines the best characteristics of a corporation and a partnership.
Protecting your name. When you register as an LLC, you are automatically protected from another business using that name anywhere in the state. This is an important step in developing your brand identity and business image.
Protecting your personal assets. An LLC protects the owners of the company in cases where there might be a lawsuit. While a creditor or a person seeking remuneration can go after the assets of the business, they cannot touch the personal assets of the members of an LLC.
Tax advantages. There are numerous tax advantages to forming an LLC in Texas. With an LLC, operating costs and business expenses can be deducted from the gross revenues of the business, as well as deducting depreciation of company assets that are part of the balance sheet.
Less record keeping requirements. Texas corporations are required to keep extensive records and meeting minutes, but an LLC is exempt from this type of recording keeping requirement. There is also no requirement for an annual shareholder meeting.
More user friendly. Overall, an LLC in Texas is much easier to operate than most other business structures.
Long life. LLCs are set up to extend beyond the death of their owners, creating fewer issues when it comes to transferring ownership or terminating a business.
Less taxation. Unlike corporations, LLC’s are taxed only at the member level, meaning there is no double taxation as there is with a corporation.
The Voeller Law Firm proudly serves San Antonio, Bexar County, Schertz, Garden Ridge and nearby Texas communities.