Fill and Sign the Florida Business Tax Application for Business Registration Form

- 1 - SINGLE-MEMBER OPERATING ARRANGEMENT OF _______________________________ LIMITED LIABILITY COMPANY STATE OF FLORIDA THIS OPERATING ARRANGEMENT is hereby established, this the _____ day of ______________, 20___, by _____________________________________ the Initial Member. The Initial Member contemplates that additional Members may join the limited liability company in the future, and the following Operating Arrangement has therefore been developed. ARTICLE I FORMATION OF LIMITED LIABILITY COMPANY 1. Formation of LLC. The Initial Member has formed a limited liability company in the State of Florida named ___________________________________________________ ("LLC"). The operation of the LLC shall be governed by the terms of this Arrangement and the applicable laws of the State of Florida relating to the formation, operation and taxation of a LLC. To the extent permitted by law, the terms and provisions of this Arrangement shall control if there is a conflict between state law and this Arrangement. The LLC shall be taxed as a sole proprietorship until and unless additional Members are added, after which the LLC will be taxed as a partnership. Any provisions of this Arrangement that may cause the LLC not to be taxed as a sole proprietorship or partnership shall be inoperative. 2. Articles of Organization. The Initial Member has caused to be filed Articles of Organization, (“Articles”) of record with the state, thereby creating the LLC. 3. Business. The business of the LLC shall be: a) _________________________________________________________ _________________________________________________________ _________________________________________________________ and b) To conduct or promote any lawful businesses or purposes that a limited liability company is legally allowed to conduct or promote, within this state or any other jurisdiction.
c) the primary business of LC is to conduct or promote (“possess‬) of one or more residential rental of dwellings in this state, which units are (possessss′) subject only to the provisions of a lease or rental agreement, which agreement shall be signed by the LLC members, which also shall specify the purpose(s) of the LLC such as date of creation. The llc members may not share the business equally. 4. Officers. Three or more members of the LLC have created an llc officer named , which includes: l) the initial member; l), the business manager; (‬) (‬) a responsible ba . 5. Beneficial ownership of common stock. For purposes of this arrangement, the LLC members shall each have a share of llc common stock. 6. Members may transfer. If the initial member, business manager, or a llc officer changes their business affiliation by becoming a sole proprietor, partner, or employee of the LLC, they are expected only to own a portion of the LLC stock and will not be able to transfer the LLC stock. 7. Limited liability of llc. 1. Upon election of directors, members of the LLC are limited liability in that they can only be personally liable for their individual shares except for liabilities arising from any breach of contract. 2. For every 1,000,000 of equity capital, the LLC members are subject to state corporate income tax plus a federal corporate income tax for every 1,000,000 of taxable capital. 3. For any purpose of the business of the LLC, if a member of the llc is at least 18 years of age but less than 26 years of age, then the LLC member shall have (or may acquire) a personal leasehold interest in the residential unit in which the LLC member resides, which is subject to the provisions of this arrangement, and the LLC member owes no personal interest in the property of the LLC. 4. Ownership in property. At any time, and without limitation, a member may request the LLC to sell such residential unit subject to the provisions of this arrangement but in no event may the LLC obligate itself to buy such property until after the owner of liens and sales proceeds has either (1) filed a notice of intent to foreclose that is not later than 30 days after (he/