Good morning. 1) You do not need to file anything with the state for the admission of the new member. But, you will need to do an Assignment of Interest assigning the investor the interest in the LLC. And, you will now need the LLC to file its own tax return and the tax items will then be passed through to the members via a K-1. The LLC will still pay no taxes itself. 2) You will need to amend your Operating Agreement to provide for the new investor and that agreement will set forth the agreement between the two of you regarding distributions. You will then make the distributions pursuant to the terms of that operating agreement.
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Please be aware that the information provided here is not legal advice. Rather it is simply general information. All states have different intricacies in their laws and any information given is simply general information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.