A non-volatile memory cell (10) is provided employing two transistors (11, 12) connected in series. A floating gate structure (13), formed with a single polysilicon deposition, is shared by each transistor (11, 12) to store the logic condition of the memory cell (10). To program and erase the memory cell (10), a voltage potential is placed on the floating gate (13) which modulates the transistors (11, 12) so only one is conducting during read operations. The gate capacitance of the transistors (11, 12) is used to direct the movement of electrons on or off the floating gate structure (13) to place or remove the stored voltage potential. The two transistor memory cell (10) couples one of two voltage potentials as the output voltage so no sense amp or buffer circuitry is required. The memory cell (10) can be constructed using traditional CMOS processing methods since no additional process steps or device elements are required.