Where do you get a DBA in San Antonio?

Certificates for Unincorporated Assumed Business Names (also referred to as "Doing Business As" (DBA)), can be filed with the Bexar County Clerk at the Assumed Name/DBA office, located at 101 W. Nueva, Ste. 112.

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Buy Sell Agreement Between Partners of a Partnership

Agreement Between Partnership For Llc In Bexar

Q: How do I form a partnership in Texas?

How to form a Texas General Partnership Step by Step Step 1 Business Planning Stage. Step 2: Create a Partnership Agreement. Step 3 Name your Partnership and Obtain a DBA. Step 4 Get an EIN from the IRS. Step 5 Research license requirements. Step 6 Maintain your Partnership.

Category:

Contracts - Buy Sell - Agreements

State:

Multi-State

County:

Bexar

Control #:

US-00443

Format:

Instant download

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Description

The Buy-Sell Agreement between partners of a general partnership is a crucial legal document designed to outline the procedures for buying and selling partnership interests, particularly in Bexar. This agreement serves to facilitate the smooth transition of a partner's interest upon death or withdrawal, ensuring the partnership can continue without disruption. Key features include the definition of each partner's ownership percentage, provisions for purchasing interests at predetermined prices, and stipulations regarding life insurance to fund these transactions. It also contains procedures for notice of intent to transfer interests and methods for valuing partnership assets annually. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to establish clear expectations among partners, promote fairness in transactions, and mitigate potential disputes. Properly filling out and adhering to the agreement not only protects individual rights but also ensures the partnership operates effectively during transitions.

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FAQ

Certificates for Unincorporated Assumed Business Names (also referred to as "Doing Business As" (DBA)), can be filed with the Bexar County Clerk at the Assumed Name/DBA office, located at 101 W. Nueva, Ste. 112.

How do I register my business name or get an Assumed Name: Doing Business As (DBA)? Visit the Bexar County Clerk's office at the Bexar County Paul Elizondo Tower, next to the Courthouse to register the business name, 1st floor 101 W. Nueva (Notary public onsite) Call them at (210) 335-2223 or visit them on the web.

Bexar County San Antonio / County

The City of San Antonio does not have a general business license. The type of license or permit needed is based on the product or service you plan to provide.

A general business license is not required in Texas.

How to form a Texas General Partnership – Step by Step Step 1 – Business Planning Stage. Step 2: Create a Partnership Agreement. Step 3 – Name your Partnership and Obtain a DBA. Step 4 – Get an EIN from the IRS. Step 5 – Research license requirements. Step 6 – Maintain your Partnership.

Numerous businesses and professions do not require licenses, such as freelance writing, web design, crafting, and hobby breeding. Some fields, like app development and consulting, offer high earning potential without needing formal licensure.

You may contact the Bexar County Clerk regarding Assumed Business Names/Doing Business As (DBA) by calling (210) 335-2223. The Assumed Name/DBA Office is located at 101 W. Nueva Ste. 120, San Antonio, Texas 78205 and is operated Monday through Friday am to pm.

Do I need a Business License? The City of San Antonio does not have a general business license. The type of license or permit needed is based on the product or service you plan to provide.

Your LLC needs a partnership agreement if you want personal liability protection while retaining the flexibility to operate as a partnership. Forming an LLC requires filing documents with your Secretary of State's Office and providing them with information about your company.

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Buy Sell Agreement Between Partners of a Partnership

BUY-SELL AGREEMENTS

Introduction

A buy-sell (business purchase) agreement is an agreement between the owners of the business for purchase of each others interest in the business. The buy-sell can be triggered in the event of the owner's death, disability, retirement, withdrawal from the business or other events.

Reasons For The Agreement

Establish the value of the business for federal and state death tax purposes.

Unwilling to continue the business with the family of a deceased co-owner.

Prevent all or part of the business from falling into the hands of "outsiders."

The Agreement Basics

The agreement provides for the purchase price, terms and funding arrangements. The agreement obligates the retiring or disabled owner or owner's estate to sell the business to the business itself, or to the surviving owner(s), or maybe an option of either.

Types Of Agreements

The Buy-Sell agreements can take several forms, such as:

An agreement between the business and the individual owners (stock redemption agreement or stock retirement plan).

An agreement between the owners (a cross purchase or "criss-cross" agreement).

An agreement between the owners and key person, family member or outside individual (a "third party" business buy-out agreement).

A combination of the foregoing.

Basically, these are either a Cross Purchase Plan or Entity Purchase Plan.

Cross Purchase Agreement

Each partner agrees with each of the other partners to purchase his or her share of the business at the time of death. The Partners may take out a life insurance policy on the life of the other(s) to fund the obligation. At the time of the first death, the surviving partner(s) collects the insurance proceeds. The survivor then uses the insurance proceeds to buy the business share from the deceased's family. This type agreement can be used with two or more partners.

Entity Purchase Plan

Each partner agrees that upon death his or her share of the business will be sold back to the business. The business may buy life insurance policies on each of the partners to fund the obligation. At the death of a partner, the business collects the insurance proceeds and buys the business interest from the deceased partner's heirs.

Transfer Restrictions

The agreements commit the owners not to sell ownership in the business prior to death, without first offering it to the persons named in the agreement. This is called a right of first option or refusal.

Life Insurance to Fund the Agreement

Whole life insurance has generally been used to fund a buy-sell agreement.

The life insurance industry also offers "Business Value Life Insurance" with a death benefit determined by the value of the business rather than the terms of the policy. The death benefit can grow as the value of the business grows. Premiums may also be higher as the death benefit increases.

Purchase Price

The purchase price can be based on an appraisal, set predetermined price, book value, or a formula of assets and earnings.

Payment Terms

Agreements may provide that the price will be paid in cash, in installments, or other means. You may also select a combination of cash and installments. Of course, if the insurance proceeds are sufficient to pay the price in cash many agreements provide that the purchase is to be paid in full in cash from the insurance proceeds.

Buy Sell Agreement Between Partners of a Partnership

BUY-SELL AGREEMENTS

Introduction

Reasons For The Agreement

Establish the value of the business for federal and state death tax purposes.

Unwilling to continue the business with the family of a deceased co-owner.

Prevent all or part of the business from falling into the hands of "outsiders."

The Agreement Basics

Types Of Agreements

The Buy-Sell agreements can take several forms, such as:

An agreement between the business and the individual owners (stock redemption agreement or stock retirement plan).

An agreement between the owners (a cross purchase or "criss-cross" agreement).

An agreement between the owners and key person, family member or outside individual (a "third party" business buy-out agreement).

A combination of the foregoing.

Basically, these are either a Cross Purchase Plan or Entity Purchase Plan.

Cross Purchase Agreement

Entity Purchase Plan

Transfer Restrictions

Life Insurance to Fund the Agreement

Whole life insurance has generally been used to fund a buy-sell agreement.

Purchase Price

The purchase price can be based on an appraisal, set predetermined price, book value, or a formula of assets and earnings.

Payment Terms

Agreement Between Partnership For Llc In Bexar

This form is part of a form package!

Description

Related forms

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Form popularity

FAQ

Where do you get a DBA in San Antonio?

How to file a DBA in Bexar County, Texas?

What county is San Antonio, TX in?

Does San Antonio require a business license?

Do I need a license to have a small business in Texas?

How do I form a partnership in Texas?

What business does not need a license?

How to get a DBA in San Antonio?

Do I need a business license in San Antonio?

Can a partnership agreement be used for an LLC?

Explore more forms

Trusted and secure by over 3 million people of the world’s leading companies

Agreement Between Partnership For Llc In Bexar

This form is part of a form package!

Description

Related forms

Viewed forms

Form popularity

FAQ

Where do you get a DBA in San Antonio?

How to file a DBA in Bexar County, Texas?

What county is San Antonio, TX in?

Does San Antonio require a business license?

Do I need a license to have a small business in Texas?

How do I form a partnership in Texas?

What business does not need a license?

How to get a DBA in San Antonio?

Do I need a business license in San Antonio?

Can a partnership agreement be used for an LLC?

Agreement Between Partnership For Llc In Bexar Related Searches

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