This Operating Agreement is for a Limited Liability Company with only one Member. This form may be perfect for an LLC started by one person. You make changes to fit your needs and add description of your business. Approximately 10 pages. It allows for eventual adding of new Members to LLC.
Llc Operating Agreement Tennessee With Multiple Owners
State:
Tennessee
Control #:
TN-00LLC-2
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Tennessee Single Member Limited Liability Company LLC Operating Agreement?
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FAQ
How do I add multiple members to my LLC? You need to amend your Articles of Organization to include the names of the additional members and amend your LLC Operating Agreement to address the change in membership interests.
Tennessee doesn't require Single-Member or Multi-Member LLCs to file a state tax return unless they have chosen to be taxed as a Corporation. If your LLC is taxed as a Corporation, then yes. Your LLC must file tax returns with the IRS and the Tennessee Department of Revenue to pay your Tennessee income tax.
Without the operating agreement, your state might not acknowledge you as an LLC, which means someone could sue you without there being any shield to protect your personal assets. You've already put in the time and effort to form your LLC to get liability protection.
How to Add a Member to a Tennessee LLC Consult your Tennessee LLC operating agreement. ... Amend your operating agreement. ... Issue membership certificates. ... Contact the IRS. ... File your Tennessee annual report.
Nope, Tennessee law doesn't require you to file your operating agreement with the state. Your operating agreement is an internal document your LLC should keep on record.