Florida LLC Operating Agreements
A Florida LLC operating agreement should include: member info, management structure, voting, profit/loss allocation, distributions, transfer restrictions, and dissolution. Tax elections: disregarded entity, partnership, S-corp (Form 2553), or C-corp (Form 8832). Tax distributions should cover members’ individual tax liabilities.
Essential Provisions
- Formation, members, capital contributions
- Management: member or manager-managed
- Voting, distributions, transfers
- Dissolution procedures
Tax Elections
- Default: disregarded (1 member) or partnership
- S-corp: Form 2553 (saves SE tax)
- C-corp: Form 8832
- Tax distribution provisions critical
Veil Protection
- Separate entity (bank accounts, records)
- Documented capital, formal decisions
- No commingling of personal/business funds
Related Terms
- LLC — Limited liability company
Barnes Walker Business Law
Barnes Walker’s attorneys draft comprehensive LLC agreements in Florida. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 605 (Florida Revised LLC Act)
The Florida Revised Limited Liability Company Act governs the formation, operation, and dissolution of LLCs, including member and manager authority, fiduciary duties, and charging orders.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC