Business lawyers meeting with clients in a room

At Sul Lee Law Firm, PLLC, we bring our extensive knowledge and experience to help you choose the proper business structure, a decision crucial for your success. A Limited Liability Company, or LLC, is a popular choice among entrepreneurs and small business owners in Texas due to its flexibility and protection. As an LLC, your personal assets are safeguarded from business liabilities, offering a layer of security not found in sole proprietorships. 

Let our team guide you through the entire process of forming your LLC in Dallas, ensure compliance with all legal requirements, and help you capitalize on this structure’s advantages. Contact our office today to schedule your initial consultation. We serve clients in Dallas, Austin, Plano, Frisco, and Irving.

Benefits of Forming An LLC

Forming a Limited Liability Company (LLC) offers several benefits for new and growing businesses:

  • Liability protection: LLCs separate personal and business assets, protecting your personal property from business debts and legal judgments.
  • Tax flexibility: LLCs enjoy pass-through taxation, where the company’s income is included in your personal tax return, potentially lowering your tax burden by avoiding double taxation.
  • Management versatility: Unlike corporations, LLCs face fewer requirements regarding management structure and annual meetings, offering flexibility in how your business is run.
  • Enhanced credibility: Operating as an LLC enhances your business’s credibility with customers, suppliers, and financial institutions, making it easier to secure funding and grow.

At Sul Lee Law Firm, we leverage these benefits to position your enterprise for success, ensuring you make the most out of your business structure.

Legal Requirements to Form an LLC in Texas

To legally form a Limited Liability Company (LLC) in Texas, several specific requirements must be met:

  • Articles of Organization: You must file Articles of Organization with the Texas Secretary of State, which officially registers your LLC.
  • Filing Fees: A non-refundable filing fee is required, which covers the cost of processing your LLC’s formation documents.
  • Business Name: Your LLC’s name must be unique and not similar to existing names on record with the state. It must also include “LLC,” “L.L.C.,” or “Limited Company” as part of the name.
  • Registered Agent: You need to appoint a registered agent with a physical address in Texas who will handle legal and tax documents for your LLC.

Trust our team to guide you through these legal requirements and ensure your LLC has a solid foundation.

How to Set Up an LLC

Setting up a Limited Liability Company (LLC) in Texas involves several key steps to ensure legal compliance and operational efficiency:

  • Choose a business name: Your LLC’s name must be distinctive and adhere to Texas naming requirements. It should also be checked for availability through the Texas Secretary of State.
  • Appoint a registered agent: Select a registered agent who resides in Texas or a business that provides registered agent services to handle legal documents for your LLC.
  • File the Articles of Organization: Submit the Articles of Organization to the Texas Secretary of State. This document should include your LLC’s name, purpose, address, and information about the registered agent.
  • Create an operating agreement: Though optional in Texas, drafting an operating agreement to outline your LLC’s ownership and operating procedures is recommended.
  • Comply with local regulations: Obtain necessary business licenses and permits from local and state authorities.
  • Open a business bank account: Establish a bank account in the name of your LLC to separate personal and business finances.

Our attorneys provide informed guidance through these steps, ensuring your LLC is set up correctly and ready to operate smoothly. Let us help you navigate the complexities of business formation.

Continuing Obligations of a Limited Liability Company

Once your LLC is established in Texas, maintaining compliance with state and federal regulations is essential. Continuing obligations include:

  • Annual reports: LLCs must file annual reports with the Texas Secretary of State to keep their business information current.
  • Taxes: Ensure you meet all federal, state, and local tax requirements, including income, sales, and employment taxes.
  • Regular compliance checks: Maintain your LLC’s good standing by renewing business licenses and permits as required. 

Sul Lee Law can assist you in navigating these ongoing responsibilities, ensuring that your business continues to operate legally and effectively.

Consult A Dallas Business Attorney To Set Up Your LLC

Setting up an LLC seems complicated, but it doesn’t have to be if you have skilled legal representation. Contact Sul Lee Law in Dallas today to get started.