Kansas LLC Operating Agreement
The Kansas LLC Operating Agreement is the core document that is referred to when issues concerning a Kansas limited liability company (“LLC”) need to be resolved.
The LLC Operating Agreement is the most important document for your Kansas 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 Kansas.
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The LLC operating agreement does not have to be filed with any state agency. All states, including the state of Kansas 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 Kansas Limited Liability Company
LLC Filing Office
Secretary of State
First Floor, Memorial Hall
120 S.W. 10th Ave.
Topeka, KS 66612
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Entity or Franchise Level Tax
Kansas does not require partnerships, LLCs taxable as partnerships, or disregarded single-member LLCs to pay a tax based on net income. However, a limited partnership, limited liability partnership (LLP), or LLC (including a single-member LLC that is disregarded for federal income tax purposes) with net capital accounts located or used in Kansas at the end of the preceding taxable year of $100,000 or more is subject to an annual franchise tax at the rate of 0.125 percent of the net capital accounts located or used in Kansas.
State LLC Act
Kansas LLC Act is contained in Chapter 17 of the Kansas
Statutes, Article 76
Important Statutory Rules
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
Unless the Operating Agreement states otherwise, new membership must be issued with the written consent of all the members.
Amending the Operating Agreement
No statutory requirements exist for amending the Operating Agreement. The members may set their own rules for amending the Operating Agreement.
The written consent of all members is required to voluntarily dissolve the LLC.
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