Legal Structure: Difference between revisions
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==WikiDemocracy.us LLC == | ==WikiDemocracy.us LLC == | ||
'''WikiDemocracy.us''' operates as a provisional Limited Liability Company. At-Large Administrator become partners in the LLC by contributing their hours at | '''WikiDemocracy.us''' operates as a provisional Limited Liability Company. At-Large Administrator become partners in the LLC by contributing their hours at agreed upon targeted rates. Those hours are then converted into their share of ownership. Their actual pay is based a shares of income. Decision making is based on a share of ownership with anything more than 50% being decisive but only after a process of consensus is attempted. A decision based on consensus is considered permanent while one based on majority rule is considered temporary. A managing member will be appointed to address the legal and accounting issues needed to meet the LLC and tax requirements. WikiDemocracy.us will run as a provisional LLC until there is sufficient income to make converting to an actual LLC practical. One important role of the At-Large Administrator is designating sales territories and finding State and Regional Administrators to act as sales representatives in those territories. | ||
'''State and Regional Administrators''' State and Regional administrators are considered "sales representatives" and independent contractors for tax purposes with no implied employee status. Their compensation is derived solely from commissions earned in their designated territories. It is their sole responsibility to pay any required expenses, licenses, fees or taxes. 1099's or any other required reporting documents will be filed for these sales representatives. They will be required to sign contracts which states their status as such. At-Large Administrators may replace sales representatives if they are not performing well or they have violated their contract. | '''State and Regional Administrators''' State and Regional administrators are considered "sales representatives" and independent contractors for tax purposes with no implied employee status. Their compensation is derived solely from commissions earned in their designated territories. It is their sole responsibility to pay any required expenses, licenses, fees or taxes. 1099's or any other required reporting documents will be filed for these sales representatives. They will be required to sign contracts which states their status as such. At-Large Administrators may replace sales representatives if they are not performing well or they have violated their contract. | ||
Latest revision as of 08:12, 11 October 2018
WikiDemocracy.us LLC
WikiDemocracy.us operates as a provisional Limited Liability Company. At-Large Administrator become partners in the LLC by contributing their hours at agreed upon targeted rates. Those hours are then converted into their share of ownership. Their actual pay is based a shares of income. Decision making is based on a share of ownership with anything more than 50% being decisive but only after a process of consensus is attempted. A decision based on consensus is considered permanent while one based on majority rule is considered temporary. A managing member will be appointed to address the legal and accounting issues needed to meet the LLC and tax requirements. WikiDemocracy.us will run as a provisional LLC until there is sufficient income to make converting to an actual LLC practical. One important role of the At-Large Administrator is designating sales territories and finding State and Regional Administrators to act as sales representatives in those territories.
State and Regional Administrators State and Regional administrators are considered "sales representatives" and independent contractors for tax purposes with no implied employee status. Their compensation is derived solely from commissions earned in their designated territories. It is their sole responsibility to pay any required expenses, licenses, fees or taxes. 1099's or any other required reporting documents will be filed for these sales representatives. They will be required to sign contracts which states their status as such. At-Large Administrators may replace sales representatives if they are not performing well or they have violated their contract.
