Entity Formation Attorney | Business Litigation Attorney

Entity Formation

Understanding the ins and outs of business entity options can be daunting. At MPP Legal, we will walk you through the whole process and the requirements in the state of Texas to ensure you pick the best structure for your new business.

We will examine the various structures, liabilities, and management differences among C-corporations, S-corporations, limited liability companies (LLCs), general partnerships (GPs) (including limited liability partnerships (LLPs)), and limited partnerships (LPs) (including limited liability limited partnerships (LLLPs)) in Texas.

It is important for our clients to understand:

Ownership Requirements and Considerations
Form of Equity and Restrictions
Formation Document & Filing Fees
Governing Documents
Liability
Management (Governing Authority)
Fiduciary Duties
Employee Incentive Considerations
Capital Raising Considerations
Distributions
Other Considerations

Our recommendations are focused on the law governing business entities under the Texas Business Organizations Code. If you are planning to form an entity in a state other than Texas, you will need to consult the appropriate state statutes before finalizing a choice of entity.

There are many different issues to consider when choosing the appropriate business entity. Determining the appropriate entity form depends mainly on the entity’s intended purpose (for example, to make an acquisition). We can educate you on the differences among the following Texas entities:

C-corporations
S-corporations
Limited liability companies (LLCs).
General partnerships (GPs), including limited liability partnerships (LLPs)
Limited partnerships (LPs), including limited liability limited partnerships (LLLPs).

Before forming an entity, you should consult (and MPP does provide):

A tax specialist familiar with both state and federal taxation issues. Some basic state tax information is available from the Texas Comptroller of Public Accounts. For more information on US federal income tax classification rules for corporations, LLCs, and partnerships.
An employee benefits attorney. The type of entity may affect the retirement plans, health and welfare plans, and other employee benefits that can be offered to employees and business owners.
Legal counsel that practice in any other areas specifically affecting the business (for example, licenses and permits)
information on US federal income tax classification rules for corporations, LLCs, and partnerships.
An employee benefits attorney. The type of entity may affect the retirement plans, health and welfare plans, and other employee benefits that can be offered to employees and business owners.
Legal counsel that practice in any other areas specifically affecting the business (for example, licenses and permits)

Contact an MPP Attorney today to discuss the entity formation that best suits your business and sets you up for future success.

Entity Formation

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