Texas LLC’s and Corporations
Several different types of business entities exist in the State of Texas. Here, I will speak to the more popular ones, the corporations and limited liability companies. Corporation Corporations are probably the most statutorily recognized entity. Most of the stock listed on the stock exchanges are corporations. In Texas, they carry the moniker “Inc.,” “Corporation,” “Incorporated,” “Corp.,” “Company,” or “Co.” after its trade name. The owners of a corporation are called stockholders or shareholders. The distributions of profits received by stockholders are called dividends. The stockholders must hold meetings annually. At the annual meeting, stockholders elect a board of directors. The board of...
Continue reading