Starting A Business And Choosing The Right Corporate Structure
A lot of people dream about starting their own business. Based in Longview, our legal team at Boon Calk Echols Coleman & Goolsby PLLC helps clients throughout East and Northeast Texas turn that dream into a reality. With decades of experience, we counsel clients on how to choose the best corporate structure for their business and implement all the necessary steps to make it happen.
How To Start A Business In Texas
Every successful business starts with a business plan. A business plan defines your business, sets forth your business goals and essentially creates a road map for your business. A good business plan is necessary if you want to attract investors and secure financing. Once your company has a solid business plan, you can proceed with the next steps:
- Finance your business by obtaining the necessary financing or securing investors
- Determine the business structure for your company and file with the appropriate government office to create a legal entity
- Identify your company’s tax responsibilities and register for state and federal tax ID numbers
- Secure any necessary licenses, certifications or permits necessary to operate your business
If your business will employ others, you will also need to understand and follow any state and federal employer requirements. At Boon Calk Echols Coleman & Goolsby, our business law and formation attorneys can help you craft a legal strategy for your business entity, offering guidance as you select and create the best business structure for your business’s goals and objectives. We can also help you secure the necessary licenses or permits to start operations and implement any employer requirements so that you are in compliance as an employer in the state of Texas.
Choosing The Right Corporate Structure For Your Startup
One of the biggest considerations when choosing the corporate structure for your startup venture is the potential risk to your own personal assets. Taxes and the formality of your management structure are additional considerations. There are several options when it comes to choosing a corporate structure, including:
- Limited liability company (LLC)
- Limited liability partnership (LLP)
- General partnership
- C corporation
- S corporation
- Non-profit corporation
Each business structure will have different ramifications for your personal liability and different tax consequences. An experienced business attorney can help you understand the differences and choose the best structure for your business entity.
Legal Support From The Birth Of Your Business To Succession
At Boon Calk Echols Coleman & Goolsby, our business lawyers have decades of experience supporting Texas startups and companies at all stages of their businesses. From the initial phase of incorporation, through any commercial contracts or conflicts, through growth opportunities like mergers or acquisitions, or when dissolution or crafting a business succession plan becomes necessary, our experience can work for you and your business.
Contact A Startup Lawyer Today
If you are ready to start your business and need legal advice on where to begin, our firm offers a free initial consultation. Please call our office in Longview at 903-704-0592 or send us an email. We look forward to helping you lay the foundation for success.