Carrollton Business Entity Formation Lawyer
The most important step in starting a new business is selecting the appropriate legal form and properly filing the necessary documents. This key stage will determine whether you are protected from personal liability for business debts, how you will be taxed, and how easily you will be able to add new partners or new capital.
The most common business entities are:
- Limited liability companies (LLCs) & Series Limited Liability Companies
- Limited Partnerships
- Sole Proprietorships
Limited liability companies provide strong asset protection, can be easily managed and are currently the most common form of business structure. Corporations are the most complicated and most expensive but are the best-known form of entity structure. Limited partnerships provide asset protection and have many other positive features. Sole proprietorships require the fewest legal formalities and are the least expensive form but do not protect your personal assets .
For help choosing which form of business is right for you and to properly register your business in the Carrollton or Plano area, contact Meyer & Colegrove today.