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SINGLEMEMBER OPERATING AGREEMENT OF [COMPANY NAME], LLCA LIMITED LIABILITY COMPANY FORMED IN THE STATE OF NEW YORKTHIS OPERATING AGREEMENT (the \"Agreement\") is made and entered into on [MM/DD/YYYY],
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A New York single-member LLC is a limited liability company that has only one owner (member). This business structure provides personal liability protection to the owner while allowing for pass-through taxation, meaning the income is taxed at the individual's personal tax rate instead of the corporate level.
Any individual or entity looking to establish a single-member limited liability company in New York must file the appropriate formation documents, such as the Articles of Organization, with the New York Department of State.
To fill out the Articles of Organization for a New York single-member LLC, you need to provide the LLC's name, the county in New York where the LLC will be located, the address of the principal office, and the name and address of the registered agent. Additionally, you may need to include an operating agreement and obtain an Employer Identification Number (EIN) from the IRS.
The purpose of a New York single-member LLC is to provide a flexible business structure that shields the owner's personal assets from business liabilities while allowing for easier management and tax treatment. It is often used by entrepreneurs, freelancers, and small business owners.
The information that must be reported on a New York single-member LLC includes the LLC's name, the county of business, the principal office address, the registered agent's name and address, and any changes in the member or structure as needed. It is also important to maintain compliance with state regulations and file annual reports, if applicable.
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