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What corporate entity is best for new business set up in texas

Longview, TX |

I am starting a Home Health Agency in Texas. We will be licensed by the State and Certified by CMS, Medicare.

The agency will begin as a Sole Proprietorship untll we begin patient care at which time we will incorporate.

Cash flow will be non existant until we are fully certified so I can't really afford attorney fees for a couple of months.

Can you comment on what I should expect (not on fees) but as to the structure I should be looking at, i.e., LLC, Corporation, Trust, or other.

Also, after we have a corporate structure will it be necessay another type of financial protection such as insurance or bonding?

Attorney Answers 1

Posted

I hope you have done a full investigation of the regulations for home health agencies and worker certification in Texas. The filing fee for a corporation or LLC is $300.00 plus any expediting fees and can be done on-line. You will also need a "corporation kit" for records, by-laws, seal. Also available on-line around $60.00. Be aware that a business entity will only protect you if you follow the corporate formalities. The business is a separate "person" not an extension of you.

I don't know if bonding is required but it is an excellent marketing tool. It makes the lients feel more secure about theft in the homes. You really should consider commerical general liability insurance for the business. It is expensive but it provides the best financial protection for the business.

The foregoing is provided as general information, not as legal advice. There is no attorney-client relationship between us.

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