![]() ![]() Along the way, we will touch on other alternative entities, such as partnerships – general, limited, and others. and Texas because it’s so darn large, growing, and business favorable). In this article, we’ll look at annual compliance and filing requirements for limited liability companies (LLCs) and corporations in both Texas and Delaware (two states where I’m licensed as a business lawyer and two states where a lot of entities are formed – Delaware because it’s the hub of corporate law in the U.S. ![]() Most LLC Operating Agreements say something like, “The Manager shall prepare, or cause to be prepared federal, state, and local tax filings, as well as apply for all required licenses and permits …” If you need to know when those filings are due or what those licenses are (FYI, in Texas many industries are licensed through the Texas Department of Licensing and Regulation (TDLR)), you’re on your own, which is likely why you found your way to this article. Your founder/governance documents will rarely get into the weeds on specific compliance requirements and annual filings. What percentage vote is required to approve actions (ordinary vs.Those types of documents generally deal with administration and governance matters from a high-level procedural standpoint, things like: So, you formed a new business entity – congratulations! Voting, management, distribution, liquidation, and other rights are established in the operating agreement, corporate bylaws, partnership agreement, or whatever other type of governing documents exist for your entity.
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