While the Coronavirus (COVID-19) was disrupting everyone’s lives, Palmer Lehman Sandberg worked to achieve a balance – continuing to take care of our clients’ legal needs, while protecting our clients, our employees, and our community (local and nationwide).

As Texas has begun to reopen, Palmer Lehman Sandberg has adjusted accordingly.

  • We are available for in-office meetings, with the following protections in place – while in our building and our office common areas (lobby, elevators, hallways, etc.), visitors must wear face coverings, and maintain social distancing (minimum 6’) as much as possible.
  • We continue telephone and video conferencing in place of face-to-face meetings, for those who prefer it.

As we continue to serve you, we wish everyone safety and good health as together we move forward through these uncertain times.

Please reach out to anyone at our firm via email or phone with any questions or concerns.

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Choosing the right foundation for your new business

| Nov 21, 2018 | Business Formation |

The business structure you use for your new Texas startup impacts many facets of the organization. At Palmer & Manuel PLLC, we often provide expertise to clients who wish to choose the right business structure of their startup.

When selecting the type of business entity, the formality of the operation, management, record-keeping, tax and ownership interests are among the top considerations. While there are many options to choose from, the four business structures listed below are among the most common for new companies.

Sole Proprietorship

An individual can own and operate this type of entity. It is the most straightforward business structure, as it does not require formal organization and you have complete control of its operation. The primary requirement is filing a DBA certificate with the county clerk’s office in all counties where business is conducted if there are no official premises.

General Partnership

In this organizational structure, two or more people agree to operate a business. There is no state filing requirement. However, you must register a DBA certificate with the county where the company resides if the assumed name does not include all partners’ surnames.

Limited Liability Company

A certificate of formation indicating that your new entity is an LLC must be filed with the Texas Secretary of State. This structure incorporates benefits of both a partnership and a corporation. Depending on your specific needs, it may require the more formal requirements of a corporation, as it is a legal entity.

Corporation

This structure enables organization founders to remain separate from the legal entity. The primary benefit is that the founders have protection against personal liability. Centralized management and transferable ownership interests are among the features that differentiate it from other types of organizations.

Choosing the right foundation for your new business can reduce limitations and exposure to legal issues as it grows and evolves. It can help your organization thrive when others falter. Visit our webpage for more information on this topic.