Another thing – The last paragraph indicates that the whole agreement is not bound by one of the conditions that may not apply in some legal systems and that, while there are other conditions that should be included in the agreement, they are registered in this area. Hello Tajrinal, apologizes for the slow response. If your U.S. partner helps manage business from Georgia, then it`s best to do it there. They could train in Delaware, Georgia, where the activity takes place (where the business is legally active). You don`t need « LLC » in the domain name, but to use it in branding and marketing, it is a proven method to also store a DBA. Hope that helps! As mentioned above, an LLC operating contract is a critical means of legal protection. For example, if the company was involved in a legal battle and you did not have an enterprise agreement, the courts could look for personal assets. Your website has been very helpful. I learned a lot (as I might as well do in California if I`m going to do business there).
I`m sorry to bother, but I could also get a copy of the member`s operating contract under management. Distributions — money sent to LLC members that are generated by the company`s revenues. This is usually calculated as a profit or amount after most of the company`s operating expenses have been paid. Learn more about how LCs are taxed as soon as you decide to complete a business contract and start your own business. Hello, Samantha, thank you for the kind words. And I`m glad our site was so helpful. Before I get into the theme managed by managers, I would just add a note on how to be the LLC organizer and keep your documentation in order. Since you form the LLC for your son, you will be the organizer of LLC and will sign the Articles of the Organization of California. Your son`s name is not in the statutes because California does not ask for the member`s information on this form. Thus, after you sign as an organizer and as an LLC, you can sign an LLC Organizer statement in Lieu of Organization Meeting, resign as an LLC organizer and appoint your son as a member.
In addition, your son should sign an LLC operating contract. In terms of managing the administration of e.V. Member-Managed, I think you could go both ways. You can choose that the LLC be managed as a manager in the statutes. Then sign a company agreement managed by managers, in which your son appoints you manager. After that, you are the only one empowered to engage the LLC in contracts and agreements. In other words, you will be the only one who can act on behalf of LLC. However, your son, who is a member, has the power to remove you as a manager because he is the only member (and does not need the agreement of other members, because there is none).
However, I think a simpler option is only a member-run LLC, where your son is known as a member of management. It has full authority and the right to engage the LLC in contracts and agreements. However, you can simply be a « consultant » or an independent contractor and you are doing what you are already doing.