Texas created more than 69,000 limited liability companies in 2007 alone. This is a staggering number compared with other states. While the growth of LLCs has been increasing in all states, the increase in Texas has been much greater.
Now, Texas is a large state and a popular one for entrepreneurship. But, the lawmakers in TX have also focused on consistently improving the Texas business organizations laws each year to ensure that the limited liability company remain simple enough yet flexible enough for any small business.
TEXAS STATUTES ADDRESS FINANCIAL LIABILITY PROTECTION
The main reason you should use a Texas LLC is for the personal asset protection it affords. Texas BOC law, Section 101.114, exempts a member or manger from the debts, liabilities or obligations of the limited liability company, unless otherwise stated in the LLC's company agreement.
Sole proprietorships do not offer this same protection, making them risky. Without LLC protection, you place your assets and yourself at enormous financial risk. While the rewards of entrepreneurship can be great, the financial risks are also high.
Entrepreneurship can bring you financial freedom but it is not without risks. You can manage most of that risk through the use of a State of Texas LLC.
STATE OF TEXAS LLC REQUIRES ONLY ONE MEMBER TO FORM
Section 101 of the Texas Business Organizations Code confirms that only one member is required to start an LLC. There are no limits or caps on the number of members so this entity can handle everything from the solo owned business to the large complex business with hundreds of owners.
LLC VARIATIONS IN TEXAS
Texas is unique in that its laws specifically allow for different kinds of potential LLC vehicles. You can see the different limited liability companies available in the BOC statutes, Sections 1-5. The primary and most popular choice available to small businesses in Texas is the traditional domestic LLC.
But there is also the Professional company that is often used to render licensed professional services such as law or medicine. Then there is the non-profit choice for charitable, benevolent and other nonprofit activities.
CONCLUSION
Texas businesses and the entrepreneur seeking an ideal location will find it in Texas, a state that has provided excellent business conditions for an LLC type corporation. Texas provides a very progressive and accommodating business environment, especially for small businesses. - 15246
Now, Texas is a large state and a popular one for entrepreneurship. But, the lawmakers in TX have also focused on consistently improving the Texas business organizations laws each year to ensure that the limited liability company remain simple enough yet flexible enough for any small business.
TEXAS STATUTES ADDRESS FINANCIAL LIABILITY PROTECTION
The main reason you should use a Texas LLC is for the personal asset protection it affords. Texas BOC law, Section 101.114, exempts a member or manger from the debts, liabilities or obligations of the limited liability company, unless otherwise stated in the LLC's company agreement.
Sole proprietorships do not offer this same protection, making them risky. Without LLC protection, you place your assets and yourself at enormous financial risk. While the rewards of entrepreneurship can be great, the financial risks are also high.
Entrepreneurship can bring you financial freedom but it is not without risks. You can manage most of that risk through the use of a State of Texas LLC.
STATE OF TEXAS LLC REQUIRES ONLY ONE MEMBER TO FORM
Section 101 of the Texas Business Organizations Code confirms that only one member is required to start an LLC. There are no limits or caps on the number of members so this entity can handle everything from the solo owned business to the large complex business with hundreds of owners.
LLC VARIATIONS IN TEXAS
Texas is unique in that its laws specifically allow for different kinds of potential LLC vehicles. You can see the different limited liability companies available in the BOC statutes, Sections 1-5. The primary and most popular choice available to small businesses in Texas is the traditional domestic LLC.
But there is also the Professional company that is often used to render licensed professional services such as law or medicine. Then there is the non-profit choice for charitable, benevolent and other nonprofit activities.
CONCLUSION
Texas businesses and the entrepreneur seeking an ideal location will find it in Texas, a state that has provided excellent business conditions for an LLC type corporation. Texas provides a very progressive and accommodating business environment, especially for small businesses. - 15246
About the Author:
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