Limited Liability Company LLC is the most common entity requested recently. Subchapter S corporation and limited partnership are also common Texas business entities in my Waco law office. The Texas Business Organizations Code (BOC) has been applied to all Texas corporations, partnerships, LLCs, and other domestic and foreign filing entities registered to transact business in Texas. The BOC applies regardless of an entity’s formation date or whether the entity has taken affirmative steps to adopt the BOC.
Waco business owners should know the types of entities and then coordinate with an attorney and accountant regarding the best entity choice. We advise business owners read the information found on the Internal Revenue Service’s Business Structures page about tax considerations when starting a new small business. Attorney Thomas P. Finley, Jr. does not give tax advice.