Minority Owned Partnership

[tjwheeles]

My sister and I are starting a LLC and would like to take advantage of the benefits of being a minority owned company. However, this would require that 51% of the company would belong to her. Can we state in our operating agreement that the company is 50/50?

 

[Michael Wechsler]

I'm not sure what you mean about "taking advantages of the benefits of being a minority owned company." What are you relying upon? If she owns 51%, she owns 51%. What is the "operating agreement" that you are talking about where you want to reference a 50% ownership? How are you reconciling a potential inconsistency?