1. Limited Personal Liability: The primary advantage of an LLC is that it separates your personal assets from the liabilities of your business. If your business incurs debt or faces lawsuits, your personal assets (like your home or car) are generally protected. This protection is a significant advantage, especially for businesses that may face potential […]
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What is the new 5 year renewal rule on Texas homestead exemptions?
Under the new law, appraisal districts are now required to periodically review all homestead exemptions to verify that homeowners still qualify. This means that at least once every five years, appraisal districts may send a letter asking homeowners to reconfirm their eligibility.
What are Shareholder Tag-Along and Drag-Along Rights?
A “tag-along” right allows a minority shareholder to join a sale initiated by a majority shareholder, essentially letting them sell their shares at the same price and terms as the majority shareholder, while a “drag-along” right forces a minority shareholder to sell their shares alongside the majority shareholder if the majority decides to sell their […]
When Can An Application for the Texas Homestead Exemption be Submitted?
In 2022 a new rule allows you can apply for the Texas homestead exemption in the same year that you purchased your home. You can file your application for the exemption at any time. Your application must be mailed by April 30th to be processed in time for your fall property tax bill. If you […]
What are the Benefits of the Texas Property Tax Homestead Exemption?
The Texas State Code, Section 11.13: Residence Homestead explains the Texas Homestead Exemption. The code requires public school districts give a $25,000 exemption on residence homesteads that are located within their districts. A residence homestead must be the primary residence. The code also provides that a homeowner is entitled to an exemption of up to […]