A lot of this has to do with your state and local codes. I wanted to run the house and the shop directly from the meter on the shop. I had double lugs on the meter to do just that. I ran the shop directly from it, as it was built first. Then the inspector tells me I need to run the house as a subpanel and I was like huh? I am running from the meter, not the shop panel. I checked NEC all over the place and found nothing. I cited him chapter and diagrams showing I was correct per NEC. He then ran it up the chain to WI state code guy who said it is a state code to require a breaker on a service from another building. So I had to add a farm panel much like Mossroad described. I thought it was dumb at the time, and still do, but the call was pretty clear once he hit up the state dude. So the shop is connected to the meter, and the house to the farm panel which connects to the meter. Go figger.
My point? Check your codes and officials. I know Texas has a lot of areas with no or almost no codes, but yuo need to know if you are going to get bit before you lay in too much cable thinking "A" when the inspector wants "B"...
At our house, it was like this...
Originally, the wire fed down the head, into the meter, then about 6' inside the basement into the circuit panel, and that was that.
Well, I wanted to put in a new circuit panel, because the old one was full of double breakers, with triple wires, wire nuts, splices, 26 light bulbs on a 15 amp breaker, things like that.... and we wanted to move the meter around the side of the house and I wanted a disconnect under the meter.
So, moved the head and meter base around the side of the house and put a disconnect under the meter.... guess what? That disconnect is now considered the main disconnect, so everything past it has to be treated as a sub-panel. The main breaker panel in the house is now technically not the main panel. Its a sub-panel. And I fed the garage off of that panel in the house, and it is a sub-panel as well.
I think there is also some sort of footage limit here, so that if your first breaker panel is more than X feet from the meter base, you have to put in a main disconnect under the meter, and make your first breaker panel into a sub-panel.