Difference between revisions of "Create a LLC in Texas"
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| − | + | A limited liability company (LLC) is a type of business well suited to many smaller enterprises. It allows an owner to limit personal liability in the finances of the company. If someone sues the company, the owners won't lose all their personal assets. They are only financially accountable for their investment in the business. Forming an LLC also provides some flexibility in how the company runs. In Texas, LLCs can be formed easily and inexpensively.<ref name="rf1">https://www.legalzoom.com/articles/texas-llc-guide</ref> Federal and state law provide many tax advantages to LLCs. For example, the LLC itself does not pay taxes; rather, the business’s net income is passed through to the owners who report it on their personal income forms. | |
[[Category:Business Entities]] | [[Category:Business Entities]] | ||
== Steps == | == Steps == | ||
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#*Consult your bank of choice about the options on your account that will be best suited to your business needs. For instance, you may need overdraft protection or prefer to hold a checking account. Or, if you'll be depositing a lot of money, you also may want to consider an interest-bearing account. | #*Consult your bank of choice about the options on your account that will be best suited to your business needs. For instance, you may need overdraft protection or prefer to hold a checking account. Or, if you'll be depositing a lot of money, you also may want to consider an interest-bearing account. | ||
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== Tips == | == Tips == | ||
