Washington Limited Liability Company With Multiple Owners
Description
How to fill out Washington LLC Notices, Resolutions And Other Operations Forms Package?
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FAQ
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.
A limited liability company (LLC) is a business entity type that can have more than one owner. These owners are referred to as ?members? and can include individuals, corporations, other LLCs, and foreign entities. Most states do not restrict LLC ownership, and there is generally no maximum number of members.
The process of adding a member to a Washington LLC may involve amending the company's articles of organization to include the new member. Depending on the terms in the agreement, current LLC members may need to vote on it for the amendment to pass.
Divide ownership of the LLC by calculating total cash investment by the members. Give each member an ownership stake equal to his cash investment. Four members contributing $25,000 apiece would each receive a 25 percent stake in the company.
You can take money out of your business account in any form you want?e.g., cash, paper or electronic checks, ACH payments, PayPal or Venmo. However you do it, you're responsible for applicable income and self-employment taxes on your business income. A payroll service can significantly simplify this process.