Wyoming Sub-Operating Agreement
Description
How to fill out Sub-Operating Agreement?
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FAQ
The operating agreement should include the following: Basic information about the business, such as official name, location, statement of purpose, and registered agent. Tax treatment preference. Member information. Management structure. Operating procedures. Liability statement. Additional provisions.
State income taxes are paid where the money is made. So in Steven's case, he would get no tax advantages whatsoever by having an LLC in Wyoming and instead, he'd be paying all his state income taxes in California. What's worse, is that the Wyoming Department of Revenue may require an informational return to be filed.
If you live in another state, you can form a Wyoming LLC even if you don't live in Wyoming. However, you may need to register it as a foreign LLC in the state where you live if you'll also be doing business there.
Wyoming's charging order protection laws are effective for members to protect their LLC assets and ownership from creditors. However, that protection does not extend outside of Wyoming. Members living out of state will have to deal with different laws protecting their LLC assets from garnishment by creditors.
What is the best state to start an LLC as a non-US resident? If you are located outside of the US and want to form a legal entity like an LLC, we recommend Delaware or Wyoming to form your LLC. The state you choose depends on your business type and how you plan to scale your business or company.
You don't need to be a US citizen or be a US resident to form a Wyoming LLC or Wyoming corporation, and the process to file your company articles is the same whether you live here in town or oceans away.
Unlike the Articles of Organization, an Operating Agreement is not required. However, without one, you're risking your limited liability status, member arguments, and a failing business.
LLCs must list the name and address of a registered agent with a physical address (no post office boxes) in Wyoming. The registered agent must be available during normal business hours to accept important legal and tax documents for the business.