Thomas Finley Lawyer


The following are the most common primary types of business entities available in Texas:
In Texas, LLC is formally created by filing a Certificate of Formation with the State of Texas to obtain the benefit of limited liability company status. In some ways, the LLC can seem like a corporation, and in others, it resembles a limited or general partnership. The LLC incorporates the benefits of the corporation’s limited liability for all the LLC owners while maintaining the tax advantages of a partnership.

The operational aspects of LLCs are very flexible under Texas law. They also require less formality than a corporation. The LLC is a prevalent business entity for entrepreneurs seeking a low-maintenance option to the more rigid corporation structure. The power to run the LLC’s day-to-day operation can be by the members themselves, or they can provide for managers to run the LLC just like a corporation’s board of directors.

With an accountant’s help and advice, business owners can select different options for the tax treatment of their LLC. The LLC is an individual entity in which all of its owners, called members, have liability protection from the LLC’s operations. Waco business lawyer Thomas P. Finley, Jr. works together with business clients and their accountants to form LLCs in Texas.