South Houston business plan consulting; Pearland business plan consulting; Houston business plan consulting; Dickinson business plan consulting; Sugar Land business plan consulting Serving Houston Business Owners. The best Houston Business Plan Writer is ready to work for you. We are the only Houston Business Plan writers with over 20 years of verifiable SBA and Equity fund-raising success. Serving the entire Houston Metrolpex including League City, Pasadena, Pearland, Sugar Land, Woodlands, Baytown, Conroe and Galveston Our Houston, Texas business plan writers can help you launch and grow your company. Over the past decade, our consultants have developed over 2, successful business plans for a wide range of business clients, including entrepreneurs, start-ups, small Estimated Reading Time: 10 mins
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General Overview Sole Proprietorship General Partnership Corporations Limited Liability Corporation Resources. There are several different types of legal structures for you to choose from, each with implications for your taxes, personal liability, partnerships and registration requirements. The below is not meant to be a complete list of the different types of legal structures, nor does it constitute legal or tax advice, but merely as a business plan companies houston texas of reference.
Other considerations should include:. Some types of legal structures are easier to set up than others. For example, if you're establishing a Sole Proprietorship or General Partnership, that does not require you to file any legal documents, but for a Corporation, Limited Liability Companies, business plan companies houston texas, Limited Partnerships and Limited Liability Partnerships, business plan companies houston texas, you will need to incorporate your company with the State of Texas.
The most common and simplest form of business is the Sole Proprietorship. In a sole proprietorship, a single individual engages in the business activity without necessity of formal organization. If the business is conducted under an assumed name a name other than the surname of the individualthen an Assumed Name Certificate, commonly referred to as a DBA, should be filed with the office of the County Clerk in the county where a business premise is maintained.
If no business premise is maintained, then an Assumed Name Certificate should be filed in all counties where business is conducted under the assumed name. In a general partnership, two or more people share ownership of a single business, business plan companies houston texas.
The partners manage the business and are responsible for all debts and obligations of the business. While there is no requirement that a partnership agreement be in writing in order to be recognizable, the details of the agreement should be written out formally to define the roles of each partner, including what would happen if the business fails.
And similar to a sole proprietorship, there are no stat filing requirements. Also, if the business is conducted under an assumed name a name other than the surname of the individualthen an Assumed Name Certificate, commonly referred to as a DBA, should be filed with the office of the County Clerk in the county where a business premise is maintained.
A Texas Corporation is created by filing a Certificate of Formation with the Texas Secretary of State. The Secretary of State provides a form that meets minimum State law requirements. A corporation is a company recognized by law as a single entity with the characteristics of limited liability, centralization of management, perpetual duration, and ease of transferability of ownership interests.
Choosing the best management structure for your corporation is a decision you should make with the advice of an attorney. Like a corporation, a Texas Limited Liability Company is created by filing a Certificate of Formation with the Texas Secretary business plan companies houston texas State. An LLC, though, is not a corporation or partnership; rather, it can be thought of as a hybrid between a corporation and a partnership. Generally, the liability of the members is limited to their investment and they may enjoy the pass -through tax treatment afforded to partners in a partnership.
As a result of federal tax classification rules, an LLC can achieve both structural flexibility and favorable tax treatment. Nevertheless, persons contemplating forming an LLC are well advised to consult competent legal counsel. A Limited Liability Company can be managed by managers or by its members.
The management structure must be stated in the Certificate of Formation. Management structure is a determination that is made by the LLC and its members. For more information about these and other business structures, please explore the resources provided below, or contact Secretary of State's office.
Do you need additional advice or guidance? These organizations may be able to assist you:. Plan a Business Choose a Business Structure General Overview Sole Proprietorship General Partnership Corporations Limited Liability Corporation Resources GENERAL OVERVIEW There are several different types of legal structures for you to choose from, each with implications for your taxes, personal liability, partnerships and registration requirements. Back to Top. Sole Proprietorship The most common and simplest form of business is the Sole Proprietorship.
Pros: Simple and inexpensive to create and operate. Owner reports business plan companies houston texas or loss on personal tax return. Easy to start up and discontinue. Can be converted easily to another business entity. Cons: Owner personally liable for business debts. Owner responsible for raising capital. Insurance risks are personally held. Health or personal issues can negatively affect the business.
General Partnership In a general partnership, two or more people share ownership of a single business. Owners partners report share of profit or loss on personal tax returns. Creates multiple options for financing and managing the business.
Partners are taxed on the income they receive from the partnership. Cons: Owners partners are personally liable for business debts. Difficult to prove legality if not filed or notarized correctly, business plan companies houston texas. Limited lifespan based on the presence of the original partners. Corporations A Texas Corporation is created by filing a Certificate of Formation with the Texas Secretary of State. Pros: Owners have limited personal liability for business debts.
Fringe benefits can be deducted as business expense. Owners can split corporate profits among business plan companies houston texas and the corporation, paying lower overall tax rates, business plan companies houston texas. Owners only pay taxes on corporate profits paid to them through salaries, bonuses and dividends. Cons: More expensive to create.
Paperwork can seem burdensome to some owners. Separate taxable entity. Some corporations are taxed on the company's profits and again on any dividends paid to the shareholders. Limited Liability Company LLC Like a corporation, a Texas Limited Liability Company is created by filing a Certificate of Formation with the Texas Secretary of State.
Pros: Owners have limited personal liability for business debts, business plan companies houston texas if they participate in management, business plan companies houston texas. Profit and loss can be allocated differently than ownership interests.
IRS rules now allow LLCs to choose between being taxed as a partnership or a corporation. State laws for creating LLCs may not reflect latest federal tax changes. Tax and liability treatment of LLCs is not uniform across State lines.
LLCs may have some restrictions placed on the transfer of ownership. Find additional business structure guides and resources below: Guide to Structuring a Business -- Office of Business Opportunity.
pdf Guide to Selecting Accountants and Lawyers -- Office of Business Opportunity. pdf "Business Structure" - Texas Wide Open for Business, Office of the Governor Choose a Business Structure -- Small Business Administration S Corporations -- Internal Revenue Service.
These organizations may be able to assist you: SCORE Houston. Home Page Choose a Business Structure Choose a Location Create a Business Plan Employees Finance Your Business Permits and Inspections Business Portal Home Page Plan a Business Start a Business Manage a Business Grow a Business Resources.
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How Much Money Do You Need to Start a Business in Houston Texas
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Plan A Business. Need help turning your great idea into a successful business? Learn more about what it may take to get your business off the ground. Every business owner must choose a legal structure for their business in order to operate, register and pay taxes. Here you can find helpful tips for determining the best place to locate your new Aug 10, · Quality business plan offers several benefits to small business owners in Houston, TX., and other areas, and potential entrepreneurs to help them succeed in their startup or expanded their current operations. A main benefit with our services is through the Estimated Reading Time: 7 mins Our Houston, Texas business plan writers can help you launch and grow your company. Over the past decade, our consultants have developed over 2, successful business plans for a wide range of business clients, including entrepreneurs, start-ups, small Estimated Reading Time: 10 mins
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