Free New York LLC Operating Agreement Templates

A New York LLC Operating Agreement is a detailed instrument created by the owners of an LLC to write down the rules their business will comply with on a daily basis. It is essential to point out the hierarchy of the entity and spell out both recommendations and standards to avoid generic laws that often do not reflect the true state of the organization - this is why this document is so crucial for both new and experienced LLCs. Note that the laws of the state demand every LLC have an operating agreement formalized and updated when the owners approve it; however, you are not supposed to show it to any governing bodies, simply maintain a copy in your records.

New York LLC Operating Agreement Template Types

• New York Single-Member LLC Operating Agreement Template. Even though you are the only member and you do not have to consult with other people when it comes to the goals and development of your business, you still have to prove the separation of your personal belongings from all the valuable items the entity owns and confirm you will file taxes instead of your business;
• A New York Multi-Member LLC Operating Agreement Template is going to be helpful since two and more members in charge get a chance to address potential disagreements that may take place some day - with several people making decisions for the entity, there will be issues, so protect yourself and the company from losing money.

How to Form an LLC in New York?

Here are the instructions for you if you are opening your own LLC in New York:

1. Find a willing individual or organization that will receive and take care of all the formal correspondence sent to your business. It might be a person working for you or a business partner - if they live in the state or operate in its territory respectively.
2. Complete the documentation to open the company for the State Department. There are two application packages available at the moment, for companies opened in the state and outside it - make sure you select the right one. Do not forget to attach the filing fee as well and announce the registration of the company via local printed media.
3. Work on the contents of the New York LLC Operating Agreement Template. The owners are free to determine what to record in this document - at least, you should indicate the full name of the company and its main location, provide the details of members and elaborate on their roles, explain how the entity will distribute revenue and stock, list procedures to follow when the company requires a meeting of members or the modification of current internal regulations, and elaborate on organizational matters like the addition or departure of the member. Ask every owner to acknowledge the document by signing it or the instrument will be unenforceable.
4. Obtain an employer identification number from the Internal Revenue Service. They will assign you a unique number that will identify your business, let you sign a deal with the creditor to get a loan, and allow you to employ individuals to help you with the growing company.

Haven't found the template you're looking for? Take a look at the related forms below:

• LLC Forms;
• Partnership Forms;
• Corporation Forms.