A Florida single-member LLC operating agreement defines the operational framework and governance structure of a limited liability company with a sole owner. Although not legally required by the state, having an agreement in place is highly recommended as it helps define the internal workings of the business and mitigates potential misunderstandings.
This agreement typically covers essential aspects such as the company’s purpose, management structure, member’s rights and responsibilities, capital contributions, profit distribution, and decision-making processes. Additionally, the agreement may detail tax considerations, such as how the business will be taxed and any potential benefits for the single member, providing clarity on tax obligations and advantages.
Legal Considerations
Statute: Chapter 605 – Florida Revised Limited Liability Company Act.
