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 in development and appears in your portal the day it is released. Buy 5 or more and every course is 30% off.

See the full track See the full curriculum

Instant download after payment. Nothing is withheld for a later purchase.

What you receive

Operating Agreement Clause Library: plain-English clause menu with drafting notes
Operating Agreement Review checklist for an agreement you already have
LLC Compliance Calendar
Capital Account and Distribution Tracker (Excel)
Charging Order Protection state comparison table
The narrated lesson. 55 minutes, cued to the deck, with chapter markers by lesson. Emailed to you the day it publishes, at no extra cost.

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.