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Operating Your LLC 
In order to maintain the benefits of member "limited liability" and "pass through" taxation, several issues must be considered in the operation of your LLC.
Operating Agreement. Once an LLC has been formed, the members should create and adopt an operating agreement. The operating agreement is a legal document which describes in legal detail the management type, ownership and interest, allocation of power and other details for the operation of the LLC. However, there is no requirement that the operating agreement be filed with any state or federal office, although banks will often request a copy when opening a bank account for the LLC. Don't worry, we provide an operating agreement with every LLC formation package.
Maintain Separation. One of the most important aspects of properly maintaining an LLC is to keep the business matters of the LLC separate from the personal matters of each member. At no time should the funds of any member be intermingled with the funds of the LLC. In addition, the LLC should have its own separate bank account and records.
Tax ID Numbers. An LLC may obtain its own federal tax identification number from the IRS. Banks will request it when opening a bank account. However, single-member LLCs have the option of using the social security number of its owner or obtaining a separate federal tax identification number.
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