North Carolina Limited Liability Company: Forms and Practice Manual

North Carolina Limited Liability Company: Forms and Practice Manual

Prominent North Carolina attorney, Cyrus M. Johnson, Jr., Esq., has drawn from his extensive experience to bring you strategies and forms for virtually every situation you may encounter in this newly revised two-volume Manual featuring a bonus CD with more than 230 electronic forms.

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.

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.

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SUMMARY TABLE OF CONTENTS

PART I: ORGANIZATION

Chapter 1: Introduction

Chapter 2: Formation and Organization

PART II: OPERATIONS

Chapter 3: The Operating Agreement

Chapter 4: Organization

Chapter 5: Limited Liability Company Capital

Chapter 6: Allocation and Distribution Provisions

Chapter 7: Management Provisions

Chapter 8: Transfer and Buy-Sell Provisions

Chapter 9: Dissolution

Chapter 10: Books, Records, and Accounting

PART III: MISCELLANEOUS

Chapter 11: Reorganization of the LLC

Chapter 12: Foreign Limited Liability Companies and North Carolina LLCs Doing Business Outside North Carolina

Chapter 13: Professional Limited Liability Companies

Chapter 14: Compensation Strategies for the LLC

Chapter 15: Legal Opinions

Chapter 16: Bankruptcy Issues Concerning LLCs

PART IV: APPENDICES

PART V: LLP AND LLC CASES

PART VI: INDICES