Incorporation in Texas

Find the right Business Incorporation attorney in Bedford, TX

Under Texas law, a business may incorporate. If it chooses to do so, it is thereafter recognized as its own legal entity. After incorporation, buying and selling property, assenting to contracts and exercising legal rights are considered acts of the business itself and not its owners. A business seeking to incorporate in Texas must file with the Secretary of State in accordance with established guidelines.

Benefits of Incorporation in Texas

An incorporated business enjoys certain benefits, the most important being a limit of liability for the shareholders. The most shareholders can lose is the amount they invest in the business. If the business had remained a personal asset of the owners, they would run the risk of losing their personal property to pay for the company's financial liabilities in case of default. Also, creditors in the Bedford area generally prefer to deal with corporations, since a loan is an investment more easily evaluated when the credit-worthiness of various owners is not an issue. Finally, the ownership of a corporation is divided into an abundance of equal portions or "shares" of stock. Without this mechanism, transferring ownership of a business would be impractical.

Costs of Incorporation

Along with a possible fee to file for incorporation in Texas, there are other costs that corporations incur. The most important is that a corporation is taxed as its own entity. In other words, the profits a corporation makes are now taxed separately, while any disbursements to shareholders are taxed as individual income. This is called double taxation. However, a business may avoid this disadvantage with proper planning and assistance from a local Bedford lawyer.

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Life in Bedford

Bedford is a suburb in Tarrant County, Texas. It is one of the cities between Dallas and Fort Worth. It is specifically recognized as a suburb of Fort Worth, with a population nearing 47,000 people.

Bedford is home to a diverse population. African Americans, Whites, Native Americans, Pacific Islanders, Asians, Hispanics and Latinos call Bedford home! Approximately 49.8% of the population comprises of married couples, while 29% of the households have children under the age of eighteen. The median income is around ,000 for a household. With this in mind, it is important that the attorneys in Bedford provide affordable legal serices. Bedford is home to many small law firms and law offices, as well as solo-practitioners. Regardless, Bedford's well-experienced attorneys focus on providing excellent and affordable legal services.

All in all, many overlook Bedford and focus on large cities such as Dallas, Houston and Austin. Although these cities are wonderful to visit, Bedford offers visitors small-town charm with a community-like feel. It is definitely a place to visit or reside in!

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