The LLC operating agreement defines how the company is run. It covers the crucial areas of management authority, voting rights, allocation of profits, losses and tax items, withdrawal or admitting of members and events triggering a dissolution. Absent an operating agreement, the LLC is governed by the default state rules, which seldom represent what the members would prefer.
Learn about IRS tax treatment of S Corporations, S Corp restrictions and making the S Corp election.
Learn about operating agreements, LLC members and managers, taxation and more.
Know what to look for when selecting a Registered Agent to receive service of process and other legal documents on behalf of your business.