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San Antonio Business Formation Lawyer

Kerrville business entity selection lawyer

Bexar County Business Law Attorney for Forming Partnerships, LLCs, and Corporations

Business owners will encounter a variety of legal concerns while operating a company, and they will want to make sure their business is structured in a way that will allow it to function successfully while also providing them with protection from liability. The selection of the right type of business entity is one of the most important decisions a business owner can make. With the help of a business law attorney, owners and partners can make sure they are meeting all of their legal requirements while also laying the groundwork for the successful operation of their company in the years to come.

Geoff Mayfield, Attorney at Law works with small businesses and other types of companies to address a wide variety of legal concerns. He believes in providing business owners with the tools they need to achieve their goals. Whether you are looking to establish a new business or restructure your business in a way that will allow you to meet the changing needs of the marketplace, he can advise you of your options and make sure you follow all of the correct procedures. With over 15 years of legal experience, Geoff can offer the legal help you need as you address any legal issues that you may encounter.

Business Entity Selection

The way a business is structured will determine how decisions will be made, how financing may be secured, and how taxes will be paid. Multiple types of business entities may be used, including:

  • Sole proprietorship - This is the simplest type of business structure, and a business owner will not need to take any steps to officially register a business entity. In these cases, business assets will not be separated from the owner's personal assets. While this will provide the owner with complete control over the business, they will not be protected from liability. This means that they could be held personally responsible for the business's debts or any claims against the business.
  • Partnership - A general partnership is similar to a sole proprietorship, except it will be owned by two or more partners. Partners may choose to structure a business as a limited partnership with one or more general partners and one or more limited partners who have protections from liability. A business may also be structured as a limited liability partnership (LLP) in which all partners are limited partners who cannot be held liable for business debts or the actions of other partners.
  • Limited liability company (LLC) - This type of business structure may involve a single owner or multiple partners who are known as members. Members will be protected from liability, and they will be considered to be self-employed. An LLC is known as a "pass-through entity," since the business's profits and losses will be applied to the members' personal taxes, and the business will not be required to pay corporate taxes.
  • Corporation - A business may be established as a separate legal entity, and ownership shares of the business may be sold to investors to raise capital. Corporations must meet a variety of requirements for keeping records and reporting profits and losses to shareholders and government organizations. Corporations usually fall into one of two categories: C corporations that pay corporate taxes, and S corporations that function as pass-through entities.

Contact Our San Antonio Business Formation Lawyer

When you choose an entity for your business, you will want to make sure you will be able to maintain control of business operations, address taxes on profits and losses, and protect yourself and your partners from liability. Attorney Geoff Mayfield can advise you of your options, help you choose the business structure that will best fit your company, and ensure that you meet all legal requirements as you register your business. Contact our law office today at 210-535-0870 to arrange a complimentary consultation. Geoff helps business owners and partners address their legal needs in Blanco County, Kerrville, San Marcos, Boerne, Bexar County, Kendall County, San Antonio, Seguin, Laredo, New Braunfels, Frio County, Comal County, Medina County, Hondo, Guadalupe County, Atascosa County, Del Rio, and Wilson County.

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