A business entity that is formed for the purpose of providing a “professional service” (i.e. any type of service that requires a Texas license) must be a professional entity.
The cost to create an LLC in Texas is the state filing fee ($300) plus a service or attorney fee if you hire someone to create your Texas LLC.
LLCs do not have their own federal income tax classification. As such, the LLC gets to choose between the existing tax classifications: (1) Sole Proprietorship/Partnership; (2) S-Corporation; or (3) C-corporation.
The Texas Series LLC is quickly becoming the preferred business entity for real estate investors. By using the Series LLC, a real estate investor can now pay for only one business entity and get the liability protection that normally takes multiple entities.
The naming requirements for a Series LLC are similar to a traditional LLC. In this article, we’ll look at naming strategies and requirements for each series with the Series LLC.