When you initially form your LLC, it is essential to create an operating agreement. This legal document outlines the roles and responsibilities of each owner, manager or member within your organization by establishing a uniform set of standards that everyone must abide by. As needed, this agreement can be modified throughout the lifetime of your business. When creating your LLC's operating agreement, it is essential to establish the guidelines for profit-sharing across each of its owners based on their ownership percentage limited liability company. Whenever payments are due to an owner, you must abide by these rules set forth in the agreement. This ensures that every participant receives what they are rightfully owed and keeps everyone involved satisfied.