Don’t be fooled. Simply registering your Texas LLC on one of the many websites that allow you to “form an LLC cheap” is only the first (and easiest) step in the formation process. When forming a Texas LLC it is very important that you complete all the steps to make sure you have an operational entity.
The documents used in the formation of a Texas limited liability company are (1) the Certificate of Formation; (2) the Company Agreement; and (3) the minutes of the first meeting of members, also referred to as the organizational meeting. It is also important to register your company with the IRS to obtain an employee identification number or EIN. Documents for ongoing LLC operations include annual and special meetings and company resolutions. Franchise tax returns must be filed as well.
There is no such thing as a universal or standard operating agreement when forming an LLC. If it is worth the time and expense of setting up a Texas LLC in the first place then the company agreement and other documents should be specifically tailored to the specific corporation’s needs. The easy “one stop shop” documents that many websites provide sound too good to be true and usually are. They lack the specialization that a seasoned attorney can provide and are too simplistic. Issues such as emergency provisions, deadlock provisions, distributions and other important liability issues are often overlooked or inadequately addressed in these documents.
Our firm strives to keep our rates competitive and at the same time specifically tailor your LLC’s formation documents so they are comprehensive and address your specific needs.