New Jersey LLC Operating Agreement
The New Jersey LLC Operating Agreement
is the core document that is referred to when issues concerning
a New Jersey limited liability
company (“LLC”) need to be resolved.
The LLC Operating Agreement is
the most important document for your New Jersey LLC.
In
the case of a single member LLC, without the formality of
an LLC Operating Agreement, the LLC can closely resemble
a sole proprietorship, which does not limit your personal
liability for business debts of the LLC.
With
respect to a multi-member LLC, the LLC Operating Agreement reflects the agreement
among the members with respect to the affairs and management
of the LLC and governs the relationship amongst the members
of the LLC. By having an LLC Operating Agreement, the members
will be provided with a clear set of rules that all members
have agreed upon greatly reducing the likelihood of disagreement
between them in the future. A LLC Operating Agreement will
also greatly reduce financial and management misunderstandings,
and make sure your business is governed by your own rules
-- not default rules created by the state of New
Jersey.
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will have one or more members, will be managed by its members
or by elected managers, or will be granting one or more
members an interest in the LLC for the performance of services,
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New Jersey LLC.
The LLC operating
agreement does not have to be filed with any state agency.
All states, including the state of New Jersey will enforce
valid operating agreements entered into among LLC members.
The operating agreement will only be enforced against the
persons who are parties to the agreement. Therefore, it
is extremely important that all members of an LLC sign the
operating agreement.
Your New
Jersey Limited Liability Company
LLC Filing Office
New
Jersey Department of Treasury
Division of Revenue/Corporate Filing Unit
P.O Box 308
Trenton, NJ 08625-0308
Tel: 609-292-9292
www.state.nj.us/njbgs/
Check Name Availability
Entity or Franchise Level Tax
Partnerships and LLCs treated as partnerships
with two or more owners are subject to a New Jersey filing
fee of $150 per owner, up to a maximum of $250,000.
Partnerships that are investment clubs and partnerships
with no New Jersey source income are not subject to the
filing fee.
State LLC Act
The
New Jersey LLC Act is contained in Title 42, Chapter 2B
of the New Jersey Statutes
The New Jersey
LLC Act
Important Statutory Rules
LLC Management
An
LLC is managed by its members unless the Operating Agreement
states that the LLC is to be managed by one or more managers.
Admission of Members
The
Operating Agreement will govern how new members are admitted
to the LLC. Unless otherwise provided in the Operating Agreement,
the admission of new members requires the consent of all
the members.
Amending the Operating Agreement
Amendments
to Operating Agreements are approved as provided in the
Operating Agreement.
Dissolution
Unless
otherwise specified in the Operating Agreement, approval
of all members is required to voluntarily dissolve the LLC.
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LLC OPERATING AGREEMENT IN MINUTES
