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McBrayer Blogs

Showing 2 posts from April 2013.

Three Provisions You Cannot Operate Without In Your Operating Agreement

I previously discussed the importance of LLC operating agreements. Let's now examine three specific provisions that you should consider for inclusion into your agreement. More >

The LLC's Most Important Document: The Operating Agreement

Deciding on the entity form to use for your business depends on a number of factors, but for many entrepreneurs, an LLC is the best fit. An LLC is a hybrid entity as it provides liability protection similar to a corporation and favorable income tax treatment similar to a partnership. If you are starting or currently operating a business through an LLC, your most important organizational document is the agreement between you and your partners: the Operating Agreement. An operating agreement establishes the internal operations of the business in a way that suits the specific needs of the business owners. Once signed by the members of the LLC, it is an official binding contract. More >

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