A sole proprietorship is simply a single individual engaged in business activity. The “sole proprietorship” is the most basic type of business in Texas. It is a one-person show. There is not a statute that governs sole proprietorships, so no filing required.
If a sole-proprietor is conducting business under a name not his or her own, then the proprietor should file a DBA (shorthand for “doing business as”) in the county where the business is located or in all counties where business is conducted if there is no business premise.
There is no limit on the management of this business. But there is also no limit on the liability of the owner. All business income is personal income for tax purposes. And the proprietor’s income is subject to self-employment tax. When the individual proprietor dies, so does the company.
Waco Business Attorney
If you need to talk to a Waco business lawyer about your sole proprietorship, please call Dunnam & Dunnam at 254-753-6437.
Andrea's practice focuses primarily in Appellate Law, Civil Trial Law, Family Law, Immigration Law, and General Law.Read More
Brittany is a member of the McLennan County Bar Association, and McLennan County Young Lawyers Association.Read More
Eleeza's practice areas include: Personal Injury Law, Civil Trial Law, Commercial Law, Family Law and Pharmaceutical Law.Read More
Gerald R. Villarrial has practiced family law, criminal law and civil litigation for over 20 years.Read More
Grace Strange is a US Army veteran who puts her determination and passion to work for clients.Read More
Jim Dunnam is a Board Certified Specialist in both Civil Trial Law and Family Law.Read More
Mason Dunnam is the fourth generation of Dunnam attorneys at the firm since 1925Read More
Merrilee L. Harmon is a Family Law specialist, Board Certified by the Texas Board of Legal Specialization since 1985.Read More