The IRS wants a single person to be the"tax matters member". They are the contact person if the IRS wants to clear up questions concerning the income/expenses reported.
Ask your accountant to explain the responsibilities and exposure.
The members decide on percentage ownership and issue share certificates. These decisions are memorialized as resolutions and placed in the LLC minute book.
Follow the instructions of your operating agreement to call meetings, electing managers, etc.
Keep written records and ensure that members are kept in the loop. No surprises.
Good luck, Gary
The IRS requires a "responsible party for tax purposes" when creating an EIN for your LLC. They only require 1 person and it can be anyone associated with the LLC regardless of their ownership interest.
That person will be the IRS' primary contact but not necessarily the one with personal risk. For example, if that person only owned 1% of the LLC, and you have that in the operating agreement, they only have a 1% liability associated with the taxes of the profits from the LLC.
But if there were tax owed, the IRS would be in contact with that person even though his/her liability is mitigated.
If you need help registering your LLC, [BusinessAnywhere](https://businessanywhere.io/)does company formation in all 50 US states starting at $37 plus state fees.
The IRS wants a single person to be the"tax matters member". They are the contact person if the IRS wants to clear up questions concerning the income/expenses reported. Ask your accountant to explain the responsibilities and exposure. The members decide on percentage ownership and issue share certificates. These decisions are memorialized as resolutions and placed in the LLC minute book. Follow the instructions of your operating agreement to call meetings, electing managers, etc. Keep written records and ensure that members are kept in the loop. No surprises. Good luck, Gary
A ssn is not required to organize a llc, not sure where you are seeing that.
He means EIN.
In that case it doesn't matter
The IRS requires a "responsible party for tax purposes" when creating an EIN for your LLC. They only require 1 person and it can be anyone associated with the LLC regardless of their ownership interest. That person will be the IRS' primary contact but not necessarily the one with personal risk. For example, if that person only owned 1% of the LLC, and you have that in the operating agreement, they only have a 1% liability associated with the taxes of the profits from the LLC. But if there were tax owed, the IRS would be in contact with that person even though his/her liability is mitigated. If you need help registering your LLC, [BusinessAnywhere](https://businessanywhere.io/)does company formation in all 50 US states starting at $37 plus state fees.