Sprott Law Firm, in Abilene TX, helps Taylor, Callahan and Jones County residents meet business goals right the right legal structure for long-term success.
Entrepreneurs who are forming a business in Texas are often unaware of the various legal requirements. How your business is structured can have an impact on your personal liability as well as your tax liabilities. The typical steps to setting up a business in Abilene, TX include:
- Deciding on a legal structure – the benefits and drawbacks of each type of legal entity should be considered
- Registering your business – all businesses in Texas must be registered with the Secretary of State
- Financial set-up – includes obtaining an EIN and setting up bank accounts
- Tax considerations – while Texas has no income tax, there are several types of business taxes that must be reviewed and understood
- Establishing and maintaining business records – including detailed rules or bylaws, annual minutes, and resolutions for banking and fundamental business decisions.
In addition to these basic steps, you may also need contracts drawn up for partners, employees or vendors. We are committed to providing you the necessary services including reviewing lease agreements or purchase and sale agreements for real estate.
If you are considering starting a business in Taylor, Callahan or Jones County contact the Abilene, TX office of Sprott Law Firm, PC at 325-232-8584. We will review your business goals with you and help you determine what business structure best meets your long-term needs as well as help you with contracts and other legal needs.