Entity Formation & Structuring

Attorneys for Business Entity Formation & Structuring in Lubbock

Choosing the right formation for a new business isn’t just a preliminary step; it’s a foundation that affects the enterprise’s legal liabilities, tax obligations, and operational flexibility. The appropriate entity choice can safeguard your personal assets, influence your company’s growth trajectory, and ensure long-term sustainability.

At Beck Law Firm, we can guide you through business entity formation to ensure your enterprise has the optimum legal structure and operational design for your needs and objectives. With help from one of our capable attorneys, you will have the understanding you need to make an informed decision about the foundation that best fits your purposes.

Reserve a consultation appointment with a Lubbock business formation lawyer by contacting us online or at (806) 531-3542.

Types of Business Entities in Texas

Various business entities are available in Texas. Each has its functions and advantages that you need to understand in order to make the right decision for your business.

Sole Proprietorship

Essentially, the business is the individual. It’s easy to set up with minimal regulatory burden but lacks liability protection.

General Partnership (GP)

Two or more people form it. Like a sole proprietorship for individual partners, it offers ease but no personal liability protection.

Limited Partnership (LP)

Comprises general and limited partners. Limited partners enjoy liability protection but cannot manage business operations. Offers a balance between liability protection and operational control.

Limited Liability Partnership (LLP)

Similar to an LP, it provides all partners with liability protection against the actions of other partners. It is ideal for professional groups like law firms or accountants.

Limited Liability Company (LLC)

Offers flexibility in taxation and operational simplicity while shielding personal assets from business liabilities. Suitable for small to medium-sized businesses seeking growth.

Corporation (C-Corp and S-Corp)

C-corps are independently taxable entities; they offer strong liability protection but at the cost of double taxation. S-corps allow profits and some losses to be passed directly to owners’ personal income without being subject to corporate tax rates.

Considerations for New Business Owners

When deciding on a formation, new business owners should consider the following:

Liability protection: Different entities offer varying levels of personal asset protection.
Taxation: Understand how your entity choice influences your tax obligations.
Operational complexity and costs: Some entities require more complex structures and higher operational costs.
Future needs: Consider how your business may evolve and which structure offers the flexibility to grow.

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At Beck Law Firm, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

"They Made It Easy"
The Beck Firm made setting up our wills extremely easy. What should have been a lengthy and intimidating process was made very simple. They were very thorough explaining the process and answering any questions we had.

- Trevor M.
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The Beck Law Firm is composed of a caring and kind team of legal experts who go above and beyond to understand and resolve your legal concerns. They were knowledgeable, resourceful, and efficient.

- Former Client
"They Were Efficient and We Are Happy"
Good communication all the way through the process. All of our questions were answered quickly and in a way that made a somewhat complicated process easy to understand.

- Anthony G.
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I recommend them to anyone who needs an attorney, they take care of business and they are on top of it!

- Delma D.
"Worth Every Penny"
Beck Law Firm helped me get two LLCs set up in no time for a great price. I will definitely be back.

- Jonathan B.
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Hands down the best law firm... in the state and in Lubbock. I highly recommend coming here for all your legal needs!

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"Excellent Experience"
This is a great law firm, Kristen Beck helped our family navigate the probate process for our Mom's estate. I highly recommend!

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"Knowledgeable and Informative"
Kristen represented me and immediately went to work. We settled out of court. She is extremely professional, knowledgeable, and informative.

- David R.

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Beck Law Firm: Helping New Businesses Thrive

Our team assists new business owners in navigating the complexities of forming new enterprises and helping them grow. We take the time to understand your business vision and offer tailored advice on the most suitable entity type. Our team can simplify legal jargon to make decision-making easier and more transparent.

Our Lubbock business formation attorneys can handle all necessary filings and documentation to ensure your business is legally compliant from day one. Beyond that, we can provide ongoing legal support as your business grows and your needs evolve.

Choosing the correct business entity is a crucial step for any new entrepreneur. Our experienced team is here to guide you through every step of the process, ensuring you’re set up for success from the very beginning.

Email us via our online contact form or call (806) 531-3542 to schedule a consultation.