Legal Question in Business Law in Texas
Eligible businesses for a Limited Liability Company
My father and I were thinking of getting into the used car business. I was wondering if, in the State of Texas, one could operate a used car dealership as a LLC. The reason I am asking is because I came across a website that mentioned certain businesses could not operate as an LLC such as banks, title companies,...The site went on to say industries requiring a special license could not be LLCs. I was wondering if that applied to used car dealers.
1 Answer from Attorneys
Re: Eligible businesses for a Limited Liability Company
You have been misinformed. Any business can operate as an LLC if properly chartered by the state.
Professional service businesses, such as accountants, lawyers, doctors and the like may not limit their liability for negligence by using an LLC, [these are called Professional LLC's]and the state licensing authority may require individuals to be on the license as well, but the basic LLC business structure is available to all legitimate businesses.
Related Questions & Answers
-
S corp or LLC? I am a sole owner and operator of my home based business and I am... Asked 6/27/00, 7:50 pm in United States Texas Business Law
-
Dissolution from An Attorney Could you Please help me find the proper form or letter... Asked 6/19/00, 10:20 pm in United States Texas Business Law
-
Limited liability company Hello i have put a patent on a product and i formed a... Asked 5/24/00, 5:19 pm in United States Texas Business Law
-
Texas Agreement Cancellation Rights Does Texas have a three day agreement... Asked 4/24/00, 9:39 pm in United States Texas Business Law
-
My rights to the future income of a company I helped create I co-created &... Asked 4/23/00, 10:42 pm in United States Texas Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
