Get CT-PLLC-TL

Limited Liability Company (LLC)

How to Write an Operating Agreement – Step by Step Step One: Determine Ownership Percentages. ... Step Two: Designate Rights, Responsibilities, and Compensation Details. ... Step Three: Define Terms of Joining or Leaving the LLC. ... Step Four: Create Dissolution Terms. ... Step Five: Insert a Severability Clause.

Once formed, you will need to maintain your LLC to remain in good standing. This will require you to file an annual report, which is due each year at the end of the month in which your LLC was originally formed. The fee to do so is $20. Stay up-to-date with your taxes, including a biennial tax of $250.

An operating agreement is a document which governs the internal operations of the limited liability company (“LLC”) and can be drafted even after the LLC has been formed. Under Connecticut law, an LLC is not required to have an operating agreement.

When filing as a C-Corp, your LLC will need to pay the 21% federal corporate income tax rate along with the 7.5% Connecticut corporate tax rate.

As a licensed professional in Connecticut you can structure your business as a Connecticut professional limited liability company (PLLC). This will give you protection from several important types of liability. It also may provide certain tax advantages compared to other ways of structuring your business.

The LLC operating agreement, also known as an LLC agreement, establishes the rules and structure for the LLC and can help address any issues that arise during business operations. Most states have default provisions that address many of these difficulties, but the operating agreement can override these presumptions.

An operating agreement is a legal document that lays out the rules and structure of your Connecticut LLC. Your operating agreement governs important aspects of your business, like voting rights, finances, management, and even—should it ever come to this—dissolution.