Tag: operating agreement

The Corporate Transparency Act (CTA), effective January 1, 2024, imposes reporting requirements on small businesses, their owners, and those involved in creating LLCs, corporations, and other small businesses. Details about the CTA’s purpose, requirements, and deadlines are below. If you’d like assistance understanding how the CTA will affect you or your business, please schedule an...

Wisconsin updated its laws related to limited liability companies and other entities effective on January 1, 2023. The new Wisconsin Uniform Limited Liability Company Law (the “New LLC Law”) incorporated major changes to LLC law and now automatically applies to any LLC (a) formed after January 1, 2023 and (b) any LLC formed on or...

An LLC is a popular tool for small businesses for lots of good reasons. Read more about those reasons here. But DIYing an operating agreement from various online sources is risky since it’ll be maybe enforceable, maybe what you actually want and need, and maybe complete. A customized operating agreement is the best way to...

Five reasons LLCs with two or more members need an operating agreement Decide how you want to operate your business. Determine whether members can be required to chip in cash. Identify a process in case a member wants out. Define how the LLC could force a member out. Address the three Ds in advance—what if...