An LLC operating agreement is a contract between you as the owner of your LImited Liability Company and the business itself. If you do not have an operating agreement in place, your LLC will be governed by your state LLC statute. With an operating agreement for your LLC, you will have more control over how your LLC is managed, and what you can and can't do as the owner of your LLC.

Some of the issues that your operating agreement will handle include:

• Who owns and manages the LLC;
• How the LLC is managed;
• How the LLC is taxed;
• How and when profits of the LLC will be distributed;
• Where the LLC will be located;
• What you will do if there is a dispute between members;

While an LLC Operating Agreement is not legally required, and you certainly do not need to file your Operating Agreement with the State, it is a vitally important legal document that will prevent a piercing of the corporate veil, and may also be required on a moment's notice for a variety of financial transactions.

Note: this operating agreement can be amended for multi-member LLCs, but is intended for single-member LLCs