What information do I need to form an LLC?
This is a frequently asked question that I thought would be useful to answer here.
For your Texas LLC, we will need you to pick a name. The more unusual the name, the better it is from an availability standpoint, but simplicity is equally as important because you will be transacting business in the name of the entity.
For a manager-managed LLC (which I almost exclusively recommend to clients), we will need to identify the “Managers” of the LLC in the Certificate of Formation that we will file with the Secretary of State. These people are the equivalent of the LLC’s board of directors. We also must supply addresses for the managers, but that may be any address, not just a home address, including a business address or a post office box.
You will need to identify the registered agent. The registered agent is the person who will receive a copy of the lawsuit if the LLC is ever sued. The registered agent can be one of the Managers, the law firm that you hire to form the LLC, or a third-party registered agent service provider.
After identifying the Managers, who are the owners, what level of control will they have, and how is cash paid back to them?
To discuss any of these points, please feel free to call me.