When we talk about an LLC, a member is the same as a partner.
- Only Owner is the person who has ownership of the company (%). This person will not be listed on state documents.
- Only Manager will not have ownership of the company but will appear on the state documents and will be able to sign contracts and documents in the name of the company.
- Owner and Manager will have ownership of the company, will be listed on the state, and will be able to sign for the company.
- IRS Responsible Party is the person responsible for the company with the IRS. This is the person who signs the SS4 to issue the EIN.
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