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LLCs are usually treated as pass-through entities by the IRS. An LLC itself doesn't pay taxes, only the people working for it so - the members of the LLC pay taxes on their share of the profits. However, members can decide to pay have the LLC taxed as a corporation...
Texas residents may want to learn more about the family limited partnership and its advantages and disadvantages. It is a partnership that a family (or extended family) may form for the a business purpose. A family may use it to run a family business or for holding...
If you're setting up a new venture in Texas, using the proper business structure is essential to ensure that your needs and goals are met. A limited liability company, or LLC, and a limited partnership, or LP, are two popular business structures that you may want to...
Business dealings might involve signing a contract that locks the various parties into an agreement. An employee may sign a deal for a specific salary, or the business could sign an agreement with a product supplier. All parties must follow the terms of their contract...
Not understanding the different facets of business law means an increase in the risks of litigation. There are different rules and regulations that a business must follow to remain in legal operation. Otherwise, owners in Texas may face multiple legal problems that...
Residents of Texas and elsewhere have certain rights regarding their debt. While bankruptcy might be the best option to alleviate debt, there is an alternative that can be used first. A preferential transfer may be able to help debtors. What is a preferential...
Everything is big in Texas, as the saying goes, but that doesn't mean the Longhorn State doesn't support small businesses. There are plenty of small LLCs and partnerships in Texas, and these relationships can come to an end. Timing and other factors determine the...
Legal disputes over allegedly substandard goods or services when small sums are involved are often resolved quickly in small claims courts, but breach of contract lawsuits can drag on for years in Texas and around the country when large sums are involved. In order to...
If your business partner doesn't uphold their end of your agreement, it's possible to sue them. However, you must check the law to know for certain, as there are numerous matters that impact this. In general, three reasons you could sue your business partner are...
If you are considering creating a startup and deciding whether to issue common stock, preferred stock, or both, then it is important that you understand the difference between the two, and why one may be better than the other. In Texas, there is a lot of commercial...
