Multi-Member LLC Questionnaire
This Multi-Member LLC Questionnaire will solicit from you the prelmininary informaiton our law firm will need to begin organizing, structuring, and registering your LLC.
Name
Please state the business name exactly how you intend to use it.
Please state the principal purpose of the business. In other words, what is the primary service or product offering for the business.
Please state the name and home address for each of the members of the company.
Please state the primary office of the business where the principal operations will be conducted.
Please state the tax structure that has been determined for the business. Note, a multi member LLC may elect the following tax structures - partnership, S-Corp, or C-Corp,
Active Members:
Please state whether all members of the LLC will be active in the operations of the business.
Passive Members
Please state whether any of the members will remain passive (investors) in the company whereby he or she will not be active in the operations of the business.
Manager-Managed Structure
Please state whether the LLC will be manager managed. Note, an LLC may be formed as a member managed company whereby all members will have authority to act of behalf of the business, or a manager managed company whereby certain members are elected to manage the day to day operations of the business. For asset and creditor protection purposes, we would suggest the manager managed structure.
Please state the name of the initial manager of the LLC.
Election of Additional Managers
Please state the name of any additional members that will also be elected to serve as a manager of the business.
Company Controlled by the Members or Managers:
Please state whether the business operations will be entirely controlled by the manager(s) (manager controlled) or whether you would like the non manager member(s) to vote of significant member matters in order to provide a check on the manager(s) authority to act on behalf of the business (member controlled).
Please state the titles or positions that the members will hold or perform.
Please state whether any of the members will be providing loans to the LLC for its initial operations.
Please state the anticipated gross revenues of the business for its first year of operations.
Please state the anticipated expenses of the business for its first year of operations.
Will any of the members be receiving a guaranteed payment or salary for his or her services.
Please state each members capital contribution in exchange for his or her membership interests in the LLC. Further, please state each member ownership percentage in the company. For example, an LLC that has two members whereby each member holds a 50 percent ownership percentage, the capital contributions for each member should be equal - i.e., $1,000 total contribution, each member would need to contribute $500 for his or her 50% ownership in the LLC.
Please state whether there will be any non-standard transfer restrictions placed on each members membership interests.
Please state whether there will be any non-standard instances of member dissociations.
Please state whether member voting will be one vote per member for each member matter or whether the each member will vote in proportion to each members ownership percentage in the company.
Please list the name and address of the individual who will act as the registered agent to the LLC.
One member will be elected the tax matters member for the LLC. Please state the name and social security number for the member serving as the tax representative for the LLC.
Please list any other information, questions or concerns that you feel may be relevant.