So I set up my LLC online last month. The form asked for "organizer" and I just put my name. Now my business partner says that's wrong and I'm listed as organizer but not as a member. What does that even mean? I thought organizer = owner. Do I need to fix this?
LLC
I didn't know an LLC organizer was different from an owner
Organizer is just the person who files the paperwork. Doesn't mean you own anything. Your operating agreement should list members (owners). If you don't have one, that's the bigger problem.
Wait, you can be organizer and not owner? I did the same thing. Now I'm worried.
The form literally asks "organizer" not "owner." It's like putting your name on a package you ship for someone else. You're not the recipient.
Yeah but a lot of cheap online services don't make the distinction claer. They just autofill organizer as the first person. Easy mistake. OP, check your articles of organization. If it says organizer: your name, and members aren't listed, you need to amend or at least have an operating agreement spelling out ownership. Also, your partner is right to flag it.
So the organizer is like the midwife and the owner is the parent? Bad analogy but you get it.
I'm an accountant, and I see this all the time. It's not a huge deal unless you never fix it. File an amendment to list the correct members. Or better yet, have a law yer draft an operating agreement. But if your partner is already listed as a member, you might just need to add yourself.
One more thing: if the LLC was formed in a state where you have to list members in the articles, then you might have have a bigger issue. But most states only require organizer. So don't panic yet.
This This thread made me go check my own paperwork. Turns out I'm organizer and my wife is the only member. Weird.
Honestly the whole system is designed to confuse first-timers. Organizer, registered agent, member, kanager... it's like a bad video game tutorial.
You forgot "authorized person." That one's my favorite. Means nothing and everything.