Updated April 15, 2022
An Idaho single-member LLC operating agreement is a document that is used when a sole proprietor would like to establish the ownership, policies, and procedures for their company.
The document is not required in the state of Idaho, however, it’s recommended that any business complete the document. Without possession of the document, should the owner find they are faced with litigation, bankruptcy or business failure, their personal and financial assets would be vulnerable to various legal consequences. This document will separate the personal assets belonging to the owner, from those of the company, protecting the owner from complete liability. The document will also offer tax benefits, not available, without the document.