Limited Liability Companies
Texas Start a Business Lawyer
To Establish a Limited Liability Company in Central Texas
Contact Austin Lawyer John McDuff
As a relatively new development in the world of business, limited liability companies (LLCs) hold strong attractions to certain investors who wish for a platform from which to venture boldly into otherwise risky territory. Advantages of an LLC include the following:
- The owners of the LLC are protected from liability for debts and actions of the company.
- An LLC can be owned by a single person.
- There is no required annual meeting for owners.
- Bookkeeping is streamlined.
- The LLC is not taxed. Instead, owners of an LLC are taxed directly, so that there is only one tax on the company’s earnings. This avoids a “double taxation” structure whereby the company is taxed and then the owners are also taxed.
- Owners have the ability to agree to a unique way of managing the company, in ways that are not available to a corporation. (In contrast, under a traditional corporation structure, there are mandatory statutes that determine the management structure, with limited ability for shareholders to change any of these elements even through the use of shareholder agreements.)
- There is an ability to give a majority vote to a minority interest. This means that individuals who are investors can customize the management function through an LLC operating agreement.
- No shareholder agreement is necessary. No collateral agreements are necessary.
I am John McDuff, a business law attorney based in Austin, Texas. The quality of my work is well recognized by my clients, and I have received the AV rating* under Martindale-Hubbell’s peer review rating system. Call 512.457.1177 to schedule an appointment.
As a business law attorney with more than 30 years of experience, I am well qualified to help people clarify their goals and counsel them as to what kind of business entity is best suited to their purposes. I bring up issues that need to be addressed related to entity selection and formation. I give advice. I draft documents and help owners formalize their agreement, which in many cases takes the form of an LLC.
I pride myself on the law firm‘s tradition of outstanding personal service for clients. This means 24/7/365 accessibility, appointments scheduled to meet each client’s convenience, and a sense of partnership between attorney and client with clear communication and cost-effectiveness.
Do you want to start a business by use of a limited liability company (LLC) in the Austin area? contact the law offices of John McDuff, Attorney at Law, at 512.457.1177 or send an email to schedule an appointment regarding any business transaction, including business start-ups.
*AV, BV and CV are registered certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.
Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the Judiciary. Martindale-Hubbell Ratings fall into two categories - legal ability and general ethical standards.