The Limited Liability Company, or LLC, is a legal business structure that seeks to combine advantages from across several other traditional business forms. Limited liability is an advantage that the LLC shares with the corporation, but instead of being taxed as its own entity, it is viewed more like a sole proprietorship or partnership for tax purposes. Like a corporation, a LLC can have unlimited shareholders, called members. But a main difference is if one of these shareholders dies or files for bankruptcy, the LLC is dissolved and will stop operations unless the remaining members form a new LLC. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in Texas since the legislature enacted laws authorizing its creation.

Can My Business Be Formed as an LLC?

Businesses in Texas may organize using whatever form they choose. The office of the Secretary of State is the organization that accepts filings by those who want to open LLC's. However, fees are regularly required to form a LLC. The actions of LLC's as well as the costs for operating them are determined by Texas law. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company might be difficult to find, but different structures can end up saving your company a lot of money.

Can I Change the Form of My Business to an LLC?

A business in Haltom may change its form under certain conditions. Whether or not a business is eligible for conversion to a LLC is a determination made by applicable Texas laws.

How Can an Attorney Help?

Lawyers practicing business law in Texas can advise you on whether it would be favorable for your business to form or convert to a LLC.