Limited Partnerships in Texas
When forming a business it is important to take all options into consideration in order to establish the strongest and most effective company possible. One important decision that must be made concerning the management of your organization is whether or not you will be enacting a partnership. In the state of Texas, the option of forming a limited partnership should be considered as well.
If you are starting or reorganizing your business and are considering forming a partnership, having the input of an experienced legal professional can make all the difference. Contact the Austin business lawyers of Slater Kennon & Jameson, LLP today at 512-472-2431 to learn more about your options.
Benefits of a Limited Partnership
If you are considering forming a limited partnership in the state of Texas, there are a number of potential benefits you should consider. These include:
- The business’ liability is shared across the partners, offering a reduced burden for all
- At least one of the partners will have limited liability for the business
- Texas limited partnerships are not subject to double taxation
- All partners can have decision making power and access to the flow of income
- Limited partnerships mean income is only taxed to the partners and is not taxed to the partnership itself
Because of these beneficial factors, many business owners choose to consider a limited partnership for the organization of their company’s leadership.
Contact Us
When deciding on an important business concern such as whether or not to have a limited partnership, it is important to weigh your options and seek the advice of an experienced professional. Contact the Austin business lawyers of Slater Kennon & Jameson, LLP at 512-472-2431 to learn how we can help you.