Free North Carolina LLC Operating Agreement Templates

A North Carolina LLC Operating Agreement refers to a written document composed by the owners of the LLC to elaborate on the hierarchy of the organization they manage, set forth their goals and objectives, and certify the legitimate status of the entity. Despite the lack of a law that would demand all newly formed LLCs to draft operating agreements, it is strongly advised to have one - whenever you are demonstrating the strong points of your company to a business partner, financial institution, or important client, you may show them the manual of rules your company adheres to on a daily basis. Moreover, this document will help you avoid generic regulations every company is supposed to implement in the absence of their own rulebook - you will have an opportunity to decide how the company functions instead of complying with the laws that may not be suitable for your aspirations.

North Carolina LLC Operating Agreement Template Types

• A North Carolina Single-Member LLC Operating Agreement Template will let you safeguard your assets - the structure of the company you describe in the formal document will mean the business is not obliged to file a tax return, instead, you are going to be taxed as a single owner; besides, an operating agreement is often necessary when you are negotiating the terms of the contract with a potential partner or investor - they may want to know more about the organization before they believe you are reliable;
• A North Carolina Multi-Member LLC Operating Agreement Template will be useful to companies with more than one owner in charge - disputes and misunderstandings are inevitable, especially if you are working together for many months or years, and it is a good idea to have an instrument that will remind you how to act in various complicated scenarios.

How to Form an LLC in North Carolina?

Follow these steps to open your own LLC in the state of North Carolina and conduct business in the territory of the state:

1. Find a person or entity willing to take care of the legal correspondence for you - it can be a local resident or organization authorized to operate in North Carolina. Determine the category your own business belongs to (domestic if it is newly formed or foreign if you started it somewhere else and are expanding) and submit the correct documentation to the Secretary of State - there are two different applications available. Enclose the filing fee to the documentation.
2. List the main details related to the operations of your company in the North Carolina LLC Operating Agreement Template. You should indicate the name, address, and purpose of the entity (it is enough to describe the products and services your business is focused on), record the names of all owners and point out their roles, explain how the company will allocate profits, liabilities, and stock, and write down the measures you are supposed to take in various organizational matters like the addition of a new member, amendment of internal regulations, or meetings of owners. All the members must acknowledge their approval of the provisions put in writing by signing the papers. Keep the latest version of the document in the internal records of the organization, give the owners access to it whenever they request, and update the wording when it is required.
3. Contact the Internal Revenue Service for an employer identification number - without it, you will not be permitted to hire individuals, pay them wages, or obtain loans. You may get this number online or via a printed-out application.

Still looking for a particular template? Take a look at the related forms below:

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