Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 880.0147

880.0147 Limited Liability Company. A limited liability company has two basic organizational documents: an operating agreement and the articles of organization (a statutorily-prescribed Secretary of State form). A limited liability company comes into existence when its articles of organization are filed with the Secretary of State. Corporations Code section 17051(c) authorizes the inclusion of optional matters in the articles that directly relate to Property Tax Rule 136 requirements.

To qualify for exemption, claimants that filed the articles of organization prior to the effective date of Rule 136 and the statutory amendments to Revenue and Taxation Code section 214 must amend their articles of organization if the articles do not include the requirements of Rule 136. C 7/12/2005.