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Maryland LLC Operating Agreement

The Maryland LLC Operating Agreement is the core document that is referred to when issues concerning a Maryland limited liability company (“LLC”) need to be resolved.

The LLC Operating Agreement is the most important document for your Maryland 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 Maryland.

Need a LLC Operating Agreement for your Maryland LLC?

www.myLLCagreement.com will generate a customized LLC Operating agreement for your Maryland LLC in a matter of minutes.

Whether your LLC 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, myLLCagreement.com will generate a customized LLC operating agreement tailored to the needs of your business.

If you don’t want to spend thousands of dollars on a lawyer and don’t trust outdated internet forms, then let myLLCagreement.com help you create a customized LLC operating agreement for your Maryland LLC.

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The LLC operating agreement does not have to be filed with any state agency. All states, including the state of Maryland 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 Maryland Limited Liability Company

LLC Filing Office

Maryland Department of Assessments and Taxation
Corporate Charter Division
Room 801
301 West Preston Street
Baltimore, MD 21201-2395
Tel: 410-767-5941
www.dat.state.md.us/sdatweb/charter.html
Check Name Availability

Entity or Franchise Level Tax

Maryland does not require partnerships, LLCs taxable as partnerships, or disregarded single-member LLCs to pay a general net worth tax or a tax based on net income.  However, Maryland imposes a tax on a partnership or LLC taxable as a partnership to the extent that it has a partner that is a nonresident of Maryland (or a non resident entity), and the partnership has nonresident taxable income for the taxable year.  Thus, Maryland’s “entity-level tax” is, de facto, a tax imposed on the entity’s nonresident owners that is paid on their behalf by the partnership (i.e., it is a withholding tax rather than a pure entity-level tax.)


State LLC Act

The Maryland LLC Act is contained in Title 4A of the Maryland Statutes

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The Maryland 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

Unless otherwise provided in the Operating Agreement, new interests in the LLC must be issues with the written consent of all LLC members.  Admission of a transferee member must be approved by unanimous written consent of the non-transferring members, unless otherwise specified in the Operating Agreement.

Amending the Operating Agreement

Except as provided in the Operating Agreement, amendments to the Operating Agreement can be made only after approval by all the LLC members.

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