What is an LLC?

Find the right LLC attorney in Odessa, TX

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. An LLC can also have an endless amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Different forms of limited liability companies have been around for hundreds years, but the modern LLC, like the legislature enacted in Texas, became more popular in the past several decades.

Can My Business Be Formed as an LLC?

The right business form is a decision left up to each business that openes in Texas. An LLC is started just by filing the appropriate form with the Secretary of State. However, there can be an additional fee required for forming your LLC, determined by Texas laws that govern the formation and actions of LLC's. In deciding whether you should organize as an LLC, you should consider carefully the applicable laws. Finding the right business structure for your company may lead to increased profits, but the process may take some time.

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

A business in Odessa 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?

The decision of whether to form or convert to a LLC is best considered with the advice of local lawyers practicing business law in Texas.

Talk to a Business Law Attorney now!

Life in Odessa

Odessa, Texas is a city in Ector County, Texas, and it has a population of about 100,000 people. It is the principle city in the Odessa Metropolitan Statistical Area.

Odessa was founded as a water stop for the Transcontinental Railroad in the 1880s. From these humble beginnings, it gradually grew into a thriving medium-sized city.

The major employers in Odessa are the school district, hospital, and the Halliburton Corporation, which has an office in the area. These employ thousands of people in a wide variety of disciplines.

The Odessa area is currently a major regional center for the performing and visual arts, particularly the Midland-Odessa Symphony Orchestra. It is also home to the Presidential Museum and Leadership Library, focused on the Presidency of the United States. It is dedicated to informing the public about the office of the presidency, rather than any particular president.

There are many lawyers in and around Odessa, Texas, who reflect the diversity and values of the community. There are plenty of Odessa, Texas attorneys who can handle just about any legal issue you might be facing. If you need legal assistance of any kind, an Odessa, Texas attorney can help.

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