Ohio LLC Operating Agreement - S Corporation
Form for a Single-Member, Member-Managed LLC with S Corp Tax Status
Safeguard your LLC's legal standing using this customizable single-member, member-managed Ohio operating agreement template for S Corp LLCs. With our Operating Agreement template, you can quickly and easily create a legally compliant operating agreement tailored to your unique needs.
Not sure if you need an Operating Agreement? Learn why these agreements are important -- especially for single-member LLCs.
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To get started, simply purchase the template and download it to your device. You can then customize it according to your business requirements. Our template includes the following important sections:
- Company Formation: Establishes the name, purpose, and duration of your LLC, along with its principal place of business.
- Taxation: Explains the S Corporation tax election and the member's responsibility for tax filings and payments.
- Capital Contributions: Details the initial contributions made by the member and the process for making additional contributions in the future.
- Distributions: Defines how profits and losses will be allocated and distributed to the member.
- Indemnification and Limitation of Liability: Protects the manager from personal liability for certain actions taken on behalf of the LLC.
- Dissolution: Describes the process and conditions for dissolving the LLC, including the distribution of assets and liabilities.
- Amendments: Specifies the procedure for amending the operating agreement, ensuring flexibility as your business grows.
Some of the benefits of using this single-member, manager-managed operating agreement include:
- The agreement is customizable to fit your unique business needs
- Easy-to-follow, step-by-step instructions
- Compliant with state laws and regulations
- Professionally drafted by legal experts
- Saves time and reduces potential legal disputes
- Protects your personal assets by solidifying the LLC structure
This form is appropriate for single-member, member-managed LLCs that have elected to be taxed as an S Corporation with the IRS. If you don't meet all these criteria, these operating agreements are better for you:
- Single-Member Operating Agreement (manager-managed; default tax)
- Single-Member Operating Agreement (member-managed, default tax)
- Multi-Member LLC Operating Agreement
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