Incorporation in Texas

Find the right Business Incorporation attorney in Mcallen, TX

Under Texas law, a business may incorporate. If it chooses to do so, it is thereafter recognized as its own legal entity. An incorporated business acts in its own name, whether buying and selling property, assenting to contracts or exercising legal rights. To incorporate in Texas, a business must file with the Secretary of State in compliance with specific guidelines.

Benefits of Incorporation in Texas

There are distinct benefits to incorporating a business. Most importantly, liabilities the business accrues may be satisfied only by assets that the owners have specifically invested in it. Without incorporation, the personal property of business owners is at stake should the company become unable to pay its debts. A corporation also allows creditors in the Mcallen area to assess the credit worthiness of the business as a whole rather than that of its owners, allowing the business to obtain loans more easily. Lastly, the ownership stake in a corporation can be apportioned into uniform slices, known as "shares" of stock. This makes it possible to sell ownership investments in more manageable slices.

Costs of Incorporation

Incorporation comes at a price. First, Texas may charge a filing fee to process applications for incorporation. Also, the corporation will pay taxes as its own entity. The incomes of owners as individuals are also taxed of course, meaning that income to the corporation may be subject to double taxation. However, this disadvantage can be avoided with proper planning and help from a local Mcallen lawyer.

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Life in Mcallen

McAllen, Texas is the largest city in Hidalgo County, having a population of more than 100,000 people.

McAllen, Texas was recently ranked by Forbes Magazine as having one of the best real estate markets in the U.S. It is currently designated a Foreign Trade Zone by the federal government, which is basically a free port, meaning that goods from other countries can enter the U.S. without having to pay customs duties.

Thanks to this free port, McAllen, Texas has a thriving retail sector, with many high-end retailers catering to American and Mexican shoppers, alike. This free trade zone also promotes a great deal of industrial activity on both sides of the border, benefiting both economies.

McAllen is a popular destination for dedicated bird watchers, as it lies on a migratory path that many different species of birds take from South America to North America. The rural areas surrounding the city provide excellent bird watching sites, along with a rich abundance of other wildlife.

If you are looking for a lawyer, and live in McAllen, Texas, chances are good that you'll be able to find one. There are many McAllen, Texas lawyers who can help you with almost any legal problem you might have.

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