Memorandum on Operation and Taxation of Newly Formed California Limited Liability Companies

Memorandum on Operation and Taxation of Newly Formed California Limited Liability Companies

DESCRIPTION:  The professionally drafted memorandum discusses certain procedures and operations that are relevant to a newly formed California limited liability company.  It is designed to give an understanding of the legal requirements that a California LLC should follow. The following issues are discussed:

• Accounting Elections
• Actions and Election of Managers
• Actions by the Members
• Annual Information Filing with the Secretary of State
• Articles of Organization
• Books, Records and Minutes
• California Sales and Use Tax
• California Tax
• California Workers' Compensation
• Delivery of Reports and Other Information
• Doing Business in Other States
• Employer Federal Taxpayer Identification Number
• Employer's Payroll Withholding Taxes
• Federal and State Regulation of Securities
• Federal Income and California Franchise Tax Returns
• Fictitious Business Names
• Following Formalities
• Inspection Rights
• Labor Laws
• Local Business Licenses
• Members and Managers
• Operating Agreement
• Other Miscellaneous Taxes
• Partnership Tax Treatment
• Self-Employment Tax
• Verification of Employment Eligibility

DOCUMENT LENGTH:  This memorandum is eleven (11) pages and is approximately 7,000 words in length.