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Back to Track 5: Entity Types for Businesses

Course 5.2 · 55 minutes

The LLC Explained: Single-Member, Multi-Member, and the Operating Agreement

Form and run an LLC that actually protects you, with an operating agreement that handles the situations that break businesses.

Who it is for
Every LLC owner, especially those with a partner.
Runtime
55 minutes

Pre-order: this course is still in development. Your purchase includes its materials as they are published in your portal. No release date is confirmed. Buy 5 or more and every course is 30% off.

See the full trackSee the full curriculum

After payment is confirmed and your access is set up, the files listed below can be downloaded from your portal. Any unpublished materials will be added when ready, at no additional charge.

Files currently available

  • Operating Agreement Clause Library.
  • Operating Agreement Review Checklist.
  • Llc Compliance Calendar.
  • Capital Account Distribution Tracker Guide.
  • Capital Account Distribution Tracker.
  • Charging Order State Comparison.
  • Slide deck.
  • Visual: Roadmap.
  • Visual: Two Layers.
  • Visual: Single Member.
  • Visual: Multi Member.
  • Visual: Twelve Provisions.
  • Visual: Charging Order.
  • Visual: Series and Pllc.
  • Visual: Worked Example Capital.
  • Visual: Se Tax Comparison.
  • Visual: Sweat Equity Tree.
  • Visual: Compliance File.
  • Workbook.
  • The narrated lesson. 55 minutes, cued to the deck, with chapter markers by lesson. Added to your portal when published, at no extra cost. This purchase does not guarantee that the narrated lesson is available today.

What the course covers

  • 01What an LLC is: members, managers, and the state law behind it5 min
  • 02The single-member LLC: disregarded for tax, separate for everything else, and its known weakness7 min
  • 03The multi-member LLC: partnership taxation and the self-employment tax question7 min
  • 04The operating agreement: the twelve provisions that decide who wins when things go wrong12 min
  • 05Charging orders and asset protection by state5 min
  • 06Series LLCs and professional LLCs4 min
  • 07Worked example: two friends, a 60-40 split, and one partner's sweat equity7 min
  • 08Tricks of the trade: profits interests, manager-managed privacy, and the annual compliance file4 min
  • 09Mistakes and traps: no agreement, commingling, deadlock, and administrative dissolution4 min

How it fits: Requires 5.1. Pairs with 5.5 and 6.3.

The standard every course holds

  • A narrated lesson of 45 to 60 minutes, produced as audio
  • A designed slide deck you download and keep
  • A computational workbook that runs the actual legal tests
  • A toolkit of checklists and protocols
  • A legal authority appendix carrying the two-pass vetting protocol

Written for a diligent reader with no legal education. Professionally narrated using a studio voice model of Brian T. Boyd. The course is recorded instruction, not a live consultation.

Where this course sits

Track 5: Entity Types for Businesses

This course is one step in a track built around a single outcome. See the full build order and the other courses that get you there.

Back to this track

Educational material from the private client curriculum of Brian T. Boyd. This is legal education for a general audience, not legal advice, and no attorney-client relationship is created by purchasing, viewing, or using it. Tax outcomes depend on your facts and your state.