Setting Up A Limited Liability Company (LLC)
A limited liability company (LLC) is a specific type of business entity designed to limit the amount of liability the owners may incur, while still providing them with other benefits that apply. While similar to a C corporation, it is somewhat different in structure as it allows for a less formal approach, such as less formal record keeping and required meetings. As each state has different laws regulating LLCs, it is best to consult with a Houston business law attorney to obtain the necessary information to make a sound decision on establishing an LLC in Texas.
Benefits Of A Limited Liability Company
An LLC requires specific filings and must be properly managed, as well as timely tax filings completed. However, it does have benefits that make it an attractive structure for your business.
Some of the benefits include:
- Tax advantages similar to a partnership or sole proprietorship
- Shields members of the LLC from personal liability
- Minimal record-keeping
There are certain businesses that can profit from this type of business structure such as property management, individuals who own rental property, law firms and other businesses that would desire to limit personal liabilities to the owners.
Contact Patricia M. Davis, Attorney at Law Today
My law office is located in Houston and can provide you with the legal expertise you need to obtain the information and advice on establishing an LLC. My fees are affordable and I provide all of my clients with personal attention. You can count on me to quickly analyze your needs and focus on the legal strategy you need in the most cost-effective manner. With more than 35 years of legal experience, I am a reliable resource for many small to medium businesses in the Houston area.