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Operating Agreement For Single Member Llc
"I need an Operating Agreement for Single Member LLC for my consulting business starting January 2025, keeping it simple and focused on professional services, with standard liability protection and tax treatment as a disregarded entity."
1. Parties: Identifies the Single Member LLC and the sole member entering into the agreement
2. Background: States the purpose of creating the LLC and the intent to establish operating rules
3. Definitions: Defines key terms used throughout the agreement
4. Formation: Details about LLC formation, including state of organization, registered agent, and purpose
5. Capital Contributions: Specifies initial and any additional capital contributions by the member
6. Management: Establishes management structure and member's authority to act on behalf of the LLC
7. Distributions: Details how and when profits and losses will be distributed to the member
8. Tax Matters: Addresses tax treatment, elections, and reporting requirements
9. Books and Records: Requirements for maintaining financial records and other important documentation
10. Transfer Restrictions: Rules regarding transfer of membership interest
11. Dissolution: Circumstances and procedures for dissolving the LLC
12. General Provisions: Standard legal provisions including governing law, amendments, and notices
1. Succession Planning: Provisions for transfer of ownership upon death or incapacity of the member
2. Employment Matters: Include if the LLC will have employees, covering hiring authority and policies
3. Intellectual Property: Include if the LLC owns or develops intellectual property
4. Confidentiality: Include if the LLC handles sensitive information or trade secrets
5. Insurance Requirements: Include if specific insurance coverage is mandatory for the business
6. Banking Matters: Include if specific banking arrangements or authorities need to be documented
7. Additional Businesses: Include if the member operates other businesses to address potential conflicts
8. Real Estate: Include if the LLC owns or leases real property
1. Schedule A - Member Information: Details of the member including contact information and initial capital contribution
2. Schedule B - Initial Assets: List of assets contributed to the LLC at formation
3. Schedule C - Principal Office and Locations: Address of principal office and any additional business locations
4. Appendix 1 - Certificate of Formation: Copy of the filed Certificate of Formation or Articles of Organization
5. Appendix 2 - Business Plan: Optional detailed business plan and operational guidelines
6. Appendix 3 - Tax Elections: Copies of any tax elections filed with the IRS or state authorities
Authors
Professional Services
Retail
Real Estate
Technology
Consulting
Healthcare
Construction
E-commerce
Manufacturing
Entertainment
Food Service
Financial Services
Agriculture
Transportation
Education
Legal
Finance
Compliance
Operations
Tax
Corporate Governance
Risk Management
Business Development
Administration
Business Owner
Entrepreneur
CEO
Managing Director
Company Secretary
Chief Financial Officer
Legal Counsel
Corporate Attorney
Business Development Manager
Operations Manager
Tax Advisor
Accountant
Financial Controller
Risk Manager
Compliance Officer
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