SUPPLEMENT UPDATE: North Carolina Limited Liability Company: Forms and Practice Manual March 2024 (3.21)

by Cyrus M. Johnson, Jr., Esq. (2024)

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SUPPLEMENT UPDATE: North Carolina Limited Liability Company: Forms and Practice Manual March 2024 (3.21)

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CYRUS M. JOHNSON, JR., is a partner of the firm of Womble Bond Dickinson (US), LLP and practices in the firm’s Charlotte office. He received a B.A., with highest honors, in 1976 and an M.B.A. and J.D., with honors, in 1982 from the University of North Carolina, Chapel Hill. He served on the Joint Committee of the Business and Tax Section of the North Carolina Bar Association which drafted the North Carolina Limited Liability Company Act. Mr. Johnson has written various articles on the business uses of the limited liability company and has spoken on various aspects of limited liability companies at seminars for the North Carolina Bar Association, the Mecklenburg County Bar Association, and various private groups. Mr. Johnson has been active in committees of the American Bar Association concerning limited liability companies. Mr. Johnson’s practice includes the representation of family businesses, corporations, partnerships, and LLCs in a wide variety of business trans-actions.

Important features of this year's supplement include:

  • Updates to the form operating agreements, including updates related to reporting requirements under the Corporate Transparency Act;
  • Changes to various state LLC filing fees and procedures;
  • Implications of changes in tax laws as it affects an LLC and its members, including updates related to income reporting, filing limits and thresholds; and
  • Recent North Carolina case summaries.

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