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How do I start a limited partnership in Texas?

Well walk you through the process. Choose a business name. First, you need to choose a name for your limited partnership. Appoint a Texas registered agent. Complete your Texas Certificate of Formation. Create a Limited Partnership Agreement. Obtain an EIN from the IRS. File the Texas Franchise Tax and reports.

Can a law firm be an LLC in Texas?

Under Texas law (Texas Business Organizations Code 301.001), PLLC ownership and management must adhere to certain restrictions and requirements. A PLLC is an excellent option for licensed professionals not permitted to form an LLC under Texas law.

Does Texas allow LLP?

However, any group of two or more people can form a Limited Liability Partnership in Texas. A limited liability partnership is a general partnership where the partners individual liability for the LLPs obligations is substantially limited.

How do I open an LP in Texas?

How to Form a Texas Limited Partnership (in 6 Steps) Step One) Choose an LP Name. Step Two) Designate a Registered Agent. Step Three) File the Certificate of Formation. Step Four) Create a Limited Partnership Agreement. Step Five) Handle Taxation Requirements. Step Six) Obtain Business Licenses and Permits.

Who Cannot be an LLP?

As per MCA Circular No. 13/2013 it has been clarified that pursuant to Section 5 of the LLP Act, 2008 only an Individual or a Body Corporate may be a partner in a Limited Liability Partnership. A HUF cannot be treated as a Body Corporate for the purposes of LLP Act, 2008.

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