a manager in any company is an employee of the company.
you pay them as an employee and everything that accompanies that.
you define the position as the President of the LLC (owner).
you hire employees (managers) and define their duties and responsibilities.
An LLC manager does NOT have to be an employee.
Who the managers are, their rights, responsibilities, duties, authority, title (president) are spelled out in the management agreement. It’s a contract between the LLC, its members, and its managers.
members are not automatically managers. managers do not have to be members.
managers can wield whatever powers are designated to them in the management agreement.
OK, Thanks Mark. I think I finallly have it!
I’d be the Managing Member in the single-member LLC. The Boss!
My wife will be designated as a non-paid manager, which will allow her to perform certain business-related duties, as outlined in the LLC’s Managing Agreement.
As long as I keep our business and personal finances separate, we both have liability protection, as do our personal assets.
Thanks again. I appreciate the time you’ve spent explaining everything.