Setting up an LLC in Texas is a relatively simple task that requires very little information. To successfully form an LLC in Texas you only need to provide the name of the LLC, the registered agent's name and address, identify the LLC's members or managers, a...
Business Entities
Entity Formation Considerations
With the advent of self-help legal websites and advances in on-line entity formation tools offered by many states, it is now easier than ever for anyone to form their own legal entity without the assistance of an attorney. However, the convenience offered by such...
Self-Employment Taxes Overview
The self-employment tax is an additional tax levied on self-employment income under the Self-Employment Contribution Act (SECA). The self-employment tax is comprised of a 12.4% Social Security tax and a 2.9% Medicare tax, for a combined 15.3% tax. The self-employment...
Texas Supreme Court Rejects Minority Shareholder Oppression
The concept of "majority rules" is a concept with which we are all no doubt familiar. But what happens when the majority owners of a closely held business exploit their power over minority owners in an abusive or oppressive manner? Is there no standard of fairness or...
What type of entity is right for my business?
One of the first steps in to starting a business or reorganizing an existing business is to determine which type of legal entity is the best fit for your business. In order to make that determination, it's imperative that you have a basic understanding of the key...