A Texas corporation must file a lot of paperwork to stay in compliance and enjoy the legal protections of corporate status. Even after a business entity has been properly formed, ongoing annual reports and other documents must be filed with the Secretary of State. Failure to do so can waste time and money that could otherwise be invested in the success of a business. An experienced Texas business attorney can help your business stay in compliance with all corporate filings and legal requirements.
Starting a Business Under Texas Law
The first step in creating a legal business entity is to file incorporation documents with the Texas Secretary of State. The type of documents you need to file depend on the type of business entity you’re forming, and it is important to determine which type of business entity best suits the needs of your business. Initial filings must also designate a person as the company’s agent for service of process (the person authorized to receive legal documents on behalf of the business). Finally, business owners must ensure that they receive the proper incorporation documents back from the Secretary of State to confirm that their application was received and the business has been legally recognized.
Ongoing Filing Requirements
Many businesses are subject to ongoing filing requirements. Minutes of board meetings or shareholder meetings are sometimes required to be filed with the Secretary of State, and businesses that fail to do so can lose the legal protections of corporate status—so consistently file all required documents in a timely manner. Designate a person within your business to be in charge of ongoing filings, or seek the services of an experienced business attorney.
Other Legal Compliance Issues
Businesses can be subject to many other legal filings, regulations, and notices. For example, many worker’s compensation and sexual harassment laws require employers to provide notice of the laws to employees. The Occupational Safety and Health Administration provides an employer notice about job safety and health. OSHA also has more stringent requirements for certain dangerous professions. Many businesses are also subject to local safety regulations—particularly food and beverage servers, medical offices, and other businesses that affect the health and safety of the general public. Business owners must know all local regulations and ensure the compliance of their companies. Failure to do so can lead to costly fines, time-consuming lawsuits, and even revocation of business and other licenses.
Corporate Compliance Made Simple
For 25 years, attorney Andrew Weisblatt has helped business owners run effective, compliant, and profitable operations. Call (713) 352-0847 or contact us online to schedule your free phone consultation today. The Weisblatt Law Firm offers a wide variety of business services to ensure compliance with corporate, tax, employment, safety, and other regulations. Don’t expose your business to the costs of fines and interrupted operations—set the right compliance strategies in place from the start.
How a Business Attorney Can Help Your Startup
Starting a new business can be a daunting challenge for even the most enthusiastic entrepreneur. With the right tools for administrative and regulatory needs, you can prepare your business for success while you focus on the creativity and passion that lead you into your venture. Consult an experienced Texas business attorney to access all the tools your business will need for success. You can use risk management, regulatory compliance, tax strategy, and other tools to save your business significant time and expenses in the future.
Required Business Filings
To form a legal business entity in Texas, entrepreneurs must file incorporation documents with the Secretary of State’s office. The documents you need to file will depend on the type of business entity you’re forming. An experienced business formation attorney can help you determine which type of business entity is best for your business.
After a business entity is formed, it can be subject to ongoing filing requirements, such as board meetings or shareholder meetings (the minutes to which the Secretary of State might require you to file in order to maintain the company’s corporate status). A business law attorney will also ensure that your business is in compliance with all ongoing filing requirements.
New businesses face many financial risks in the marketplace. Some of these—such as weather conditions and other force majeure—you cannot remove. Others, however, you can mitigate with appropriate risk management strategies. For example, Texas requires that most employers purchase worker’s compensation coverage. By implementing safety and logistical planning, you can reduce your risk of worker’s compensation claims, and your business may pay lower premiums. Meanwhile, the employer saves the expense of employees missing work—or decreased productivity—due to injuries.