Drafting an operating agreement is a common business practice for startup LLCs. An LLC is a small-business structure where the company enjoys legal treatment closer to that of a corporation ...

If you signed an LLC operating or partnership agreement prior to January 1, 2018, it may need to be amended to accommodate a significant new rule regarding taxation of partnerships. Effective for ...

Under the template for a 50/50 partnership agreement, each partner shares equally in any profit or loss generated from the business. In addition, each partner has an equal voice in managing the ...

An agreement can also protect partners from any personal liability if it appears they are operating as a sole proprietorship or a partnership. Benefits of an LLC Operating Agreement ...

Neither of these partnerships had operating agreements in place, which makes the situations much more difficult, time consuming and expensive. Buyouts. A crucial part of an operating agreement are ...

A partnership agreement (or operating agreement, in the case of a limited liability company) may be the single most important agreement a partnership will enter into. Considered the foundation of ...

8. Agreement amendment. What works in theory may not work in practice; no operating agreement is created perfectly. Any number of factors can demand a change in the operating agreement, but how that ...

Effective Jan. 1, 2018, the IRS changed its audit rules as they relate to any entity taxed as a partnership. Partnership Agreements and LLC Operating Agreements Need to Be Amended Now! – Commercial ...