Updated December 08, 2021
An Arkansas single-member LLC operating agreement is a legal document that is used by a single member, also known as a sole proprietor, to establish an entity. This document is a requirement by the state of Arkansas for all businesses choosing operation inside of the state. Annual reports must also be filed no later than May 1st and will require the State fee to be submitted along with the report.
This document offers separation between the assets belonging solely to the owner and those of the business, protecting personal assets in the event of any legal events that may take place. The document will establish not only membership and certification with the state, but it will also provide taxation benefits. The owner should completely review the form to be certain that they are clear in the understanding of the entire document. If not, the owner may choose to select an attorney to provide proper clarification before signing the document.