![]() Is that correct?Īlso, if that is true, then it looks like you enter all of that info in the Operating Agreement, which does not need to be submitted to the state. To preface this question, my wife and I are starting an LLC and will be 50/50 but will potentially operate out of separate d.b.a.’s or trade names.įrom what I’m understanding from your videos when filling out the LLC form online you can leave the optional provisions blank, as in you do not need to include the LLC members and percentage breakdowns. Hi Matt, thank you for this video series. Your LLC has 2 Organizers, but again, this does not necessarily reflect all owners. It sounds like you’re looking for a copy of the Articles of Organization and the Transmittal Form, correct? If so, do you not have a copy of them when you filed? Alternatively, you can search your LLC name here ( ), then click on your LLC, click “Filing History”, then click “Business Formation”. Ownership of an LLC is done “internally” via the Operating Agreement, between the people who agree to be its members. The Articles of Organization only has an Organizer, the person filing the paperwork. It’s also not set within the Georgia Articles of Organization. Did you obtain an EIN with the IRS? How many members (owners) does the LLC have and who formed it? Ownership of an LLC is set in the Operating Agreement, and it’s not with the IRS. Hey Claudio, the IRS documentation (EIN Confirmation Letter) does not show the “owner”. We recommend keeping a copy of the Operating Agreement with your LLC business records. Once you finalize your Operating Agreement, make sure all the Members have a copy. However, certain things, like adding or removing an LLC Member, require a vote of the Members (and the Manager has no say). The Manager(s) then has authority to make certain decisions on behalf of the LLC (without needing a vote by the Members). ![]() Then the Members vote to elect a Manager or Managers. If you use the Manager-managed Operating Agreement, the voting powers are also proportionate to the LLC Membership Interest. If you use the Member-managed Operating Agreement, the voting powers are proportionate to the LLC Membership Interest. The rules of membership voting will be spelled out in your Georgia LLC’s Operating Agreement. Georgia is not a community property state, so your Georgia LLC can’t be taxed as a Qualified Joint Venture. To do this, the LLC must be formed in a community property state. Note: Husband and wife LLCs can sometimes be taxed as a Qualified Joint Venture LLC. LLC Membership Interest is most often expressed as a percentage (like 5%, 50%, 100%, etc.). How much of the LLC someone owns is called their “LLC Membership Interest”. ![]() Your Operating Agreement will list all the LLC Members and how much of the Limited Liability Company they each own.
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