California Llc Operating Agreement With Multiple Classes
Description
How to fill out California Limited Liability Company LLC Operating Agreement?
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FAQ
The Dual Class LLC is structured to admit both active, management-providing members (?General Members?) in addition to more passive, capital-contributing members (?Limited Members?). In doing so, the members/owners acting solely as limited partners are not subject to the Self Employment (?SE?) tax.
It is possible to have multiple classes of equity in an LLC. In a real estate LLC, for example, you may have an actively managing member and other passive participants.
Does an LLC have shares? No. Only businesses structured as a corporation issue shares. With a limited liability company, ownership is expressed by percentage and membership units.
In order to complete your Operating Agreement, you will need some basic information. The formation date of your LLC. The name and address of the Registered Office and Registered Agent. The general business purpose of the LLC. Member(s) percentages of ownership. Names of the Members and their addresses.
Class A shares may offer 10 voting rights per stock held, while class B shares offer only one. It depends on how the company decides to structure its stock. Class B shares are lower in payment priority than Class A shares.