New Jersey Liability Company With Multiple Members
Description
How to fill out New Jersey Limited Liability Company LLC Operating Agreement?
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FAQ
member LLC, also known as a MMLLC, is a limited liability company (LLC) with more than one member. Limited liability companies are one of the most popular business structures in the United States.
Depending on the terms in the agreement, current LLC members may need to vote on it for the amendment to pass. If you are a single-member LLC and add a new member, it will become a multi-member LLC, changing its tax status from pass-through to taxed as a corporation or partnership.
Registering an LLC for Multiple Members State laws generally allow the registration of LLCs with several members. To create an LLC owned by many people, the intended owners of the LLC are required to file articles of organization with any state agency in charge of registering such business entities.
Although they may have different classes of members, there is no requirement for a board of directors. Also, LLC's may have anywhere between one and an unlimited number of members, who may be people or other businesses.
To add (change, remove, etc) members to a NJ LLC one would need to file Amendment of Articles of Organization with the New Jersey Division of Revenue. And yes, corporations can be members of LLC as long as the LLC is not elected to be taxed as S-Corp.