Form a Partnership Texas – Partnership Formation Dallas
Partnership Formation or Partnerships are almost the opposite of a corporation. At least one person must be responsible for company debts and litigation, but profits go directly to owners–avoiding the “double taxation.”
Partnerships are very easy to form–two or more people form a partnership when they work together, whether or not they acknowledge it. Partnerships have almost no formal requirements, such as holding meetings, etc. General Partnerships are when two persons join together in a for profit motive and operates within a partnership agreement.
A limited partnership is different. This type can be setup and includes both a general and limited partner. If a limited partnership is structured correctly it can protect the individuals from certain liabilities.
If you are interested in finding out if a Partnership is right for your situation, ore need help in your partnership formation, contact us to schedule a FREE no obligation consultation. Call us at 214-383-5690, email us at firstname.lastname@example.org, or complete the contact form on the right hand of this page, and we will promptly answer your questions.