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Business Entities

Texas Business Entities

Our professional team at Guaranty's Wealth Management Group works with business owners and entities in a variety of ways.  We can review the goals and objectives of the owners and business entities and make recommendations about the legal structure of the business, assist is reviewing both qualified and non-qualified employee benefits, assist in the management of corporate assets and funds, and most importantly, work with our clients to develop long term business succession planning before the business owner retires.  

Choosing an entity for your business

A business can be operated in many forms.  Some of the more commonly known forms are: (1) sole proprietorship; (2) limited liability company (LLC); (3) C corporation; (4) S corporation; (5) general partnership; and (6) limited partnership.  A sole proprietorship is not a separate entity and is by far the simplest of these six.  The other five choices do involve the creation of a separate entity, but none is inherently better than another.  Rather, each has different elements that might or might not make it a good fit for your business operations. You should consult with your attorney, accountant and other advisors before choosing one of these business forms.

Below is a list of items to consider when choosing a business form.
  • Income taxation
  • Formation
  • Ongoing operations and cash distributions
  • Non-cash distributions
  • Liquidation/Sale
  • Limited liability
  • Sole Proprietorship
  • Corporation
  • Partnership
  • Limited Liability Company
  • Flexibilty of capital structure
  • Paperwork and administrative cost
  • Formation
  • Maintenance

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