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This is a CA LLC which states the 50/50 partnership. Question is are we required to amend it to shift to an 80/20 partnership and if so how do we do that? By 80% work provided out of CA I mean that the actual consulting services are being done from out of state for a CA client. Using a KI CA state taxes are paid by both owners in addition to fed taxes
There is an operating agreement which was filed with the state of CA. As I understand it we need to file a Statement of Information to update the address of one of the owners who is now out of state. But if we shift the ownership from 50/50 to 80/20 do we need to notify the state and make formal changes in the operating agreement?