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Single Member LLC ongoing requirements?



 
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Old March 5th, 2009 Mar 5, 2009 9:45:33 AM -   #1 (permalink)
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Default Single Member LLC ongoing requirements?

For businesses setup as single member LLC, does anyone know what is the required documentation in CA? I filed with the secretary of state the application plus the Statement of Information and formed the LLC.

Besides the Operating Agreement, and meeting minutes (and of course franchise tax=$800) is there any other ongoing requirements?

Also, please any good links to single member operating agreements and meeting minutes samples? Thanks for any help.
 
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Old March 8th, 2009 Mar 8, 2009 9:35:55 PM -   #2 (permalink)
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Default Re: Single Member LLC ongoing requirements?

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Originally Posted by puertopass
For businesses setup as single member LLC, does anyone know what is the required documentation in CA? I filed with the secretary of state the application plus the Statement of Information and formed the LLC.

Besides the Operating Agreement, and meeting minutes (and of course franchise tax=$800) is there any other ongoing requirements?

Also, please any good links to single member operating agreements and meeting minutes samples? Thanks for any help.
You will file a Statement of Information every other year. Other than that, have an annual meeting that documents your distributions etc. Single member LLC's are to protect yourself from personal liability. Tax wise, they are the same as a sole prop.
 
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