Single Member. (Applies ONLY if Single-Member): The Company will create and properly maintain records and books that are complete and accurate. These records and books shall detail the Company’s affairs and business as outlined by ▇▇▇▇▇▇▇▇, and these books and records will be kept in the registered office of the Company and be separate from the records and books of the Member. For the purpose of record keeping and books, the Company’s fiscal year will be the twelve-month period ending in December. The intention of the Member is for the Company, which is a Single-Member LLC, to be taxed as a sole proprietorship in line with the Internal Revenue Code’s provisions. If any provision contained within this Agreement prevents the Company from being taxed as a sole proprietorship then it is considered invalid.
Appears in 7 contracts
Sources: Operating Agreement, Operating Agreement, Limited Liability Company Operating Agreement